Europe Agrees to Aid Greece, February 10, 2010
"Greek government debt rallied for a second consecutive day, with the yield on the government’s benchmark 10-year bond — which spiked as high as 7.2 percent on Jan. 28 — dropping at one point below 6 percent for the first time in a month. Italian, Irish, Spanish and Portuguese bonds also gained.
The cost of insuring government debts against default also fell."
"Billionaire investor George Soros said he’s “confident” that Greece will tackle the budget woes that have sparked a rout in its government bonds.
“I’m actually confident they will make it,” he said in an interview in Davos, Switzerland today...
Greece effects us, because the rest of the EU serves as counterparty to some of their risk. Being that the EU is dragging their feet on helping Greece out, everyone and their mother is selling euros and buying DOLLARS. They will not buy gold, because they are traders and not INVESTORS.
When the dust settles, and it's not all in the air just yet, gold and white metals will do fine.
Bigger yet is China, and a collapse in their markets will mute whatever "recovery" we have going.
I don't get this fascination with Greece. GREECE???
What the heck does PD/Pl prices have to do with Greek Bonds?
This global economy is for the birds! Check this out from Bloomberg:
“The markets are expecting a positive announcement out of the European Union this weekend as it relates to Greece and their debt,” said John Brady, Chicago-based senior vice president with the interest rates product group at MF Global Ltd. “Although it’s unclear whether Greece will be bailed out, some in the market think the EU has no choice.”
On mu Ameritrade watch screens, several major gold stocks are moving up while the PD and PL stocks are moving down along with all precious metal spot prices.
What the heck is going on? The only explanations , BIG BOY players and manipulators.
Monday, should thus be our turn in they are monkeying with these sectors to force sales at low prices and then come back in.