The good news is Greece won’t default on March 20, and 10-year borrowing costs for Spain and Italy have dropped below 5 percent. The bad news is similar- maturity Portuguese bonds still yield more than 13 percent.
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“I’m not forecasting a second default, but the markets certainly are,” said Bill Gross, co-chief investment officer at Pacific Investment Management Co., which manages the world’s biggest bond fund. “The rules have been changed here,” he said in a March 9 radio interview with Tom Keene and Ken Prewitt on “Bloomberg Surveillance.”
http://www.bloomberg.com/news/2012-03-12/portugal-yield-at-13-says-greek-deal-not-unique-euro-credit.html
....
“I’m not forecasting a second default, but the markets certainly are,” said Bill Gross, co-chief investment officer at Pacific Investment Management Co., which manages the world’s biggest bond fund. “The rules have been changed here,” he said in a March 9 radio interview with Tom Keene and Ken Prewitt on “Bloomberg Surveillance.”
http://www.bloomberg.com/news/2012-03-12/portugal-yield-at-13-says-greek-deal-not-unique-euro-credit.html
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