|Bid||22.98 x 1000|
|Ask||23.24 x 600|
|Day's Range||23.29 - 23.39|
|52 Week Range||16.67 - 23.59|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.48%|
Shares of Greek banks have been slipping in recent weeks as the threat of multiple stress tests shine a light on the quality -- and scrutiny -- of financial assets in the struggling nation. The financial crisis in Greece and unemployment have resulted in non-performing loans, though Greek banks entered the 2008 global financial crisis with 5.5% of loan books in the NPL category, according to Reuters. In August, Reuters reported that bad loans accounted for half of Greek bank loan portfolios last year, at 106.9 billion euros, and regulators want the ratio cut to 34%.
Europe's sovereign and corporate bonds, with high yields below 2.5%, are equally susceptible to pressure, according to Peter Boockvar, chief market analyst at The Lindsey Group based in Fairfax, VA. With the euro strengthening by 1.4% against the U.S. dollar this week, maintaining a value of 1.20, Boockvar writes in his daily morning missive today: "The strangest behavior in markets yesterday was the rip higher in the euro after European Central Bank President Mario Draghi’s press conference at the same time European sovereign bonds spiked up in price and down in yields. The euro today is holding its gains and advancing some more from yesterday’s close while European yields are rising and getting back some of what it lost yesterday after a Reuters story this morning that said: 'European Central Bank policymakers meeting on Thursday were in broad agreement that their next step will be reducing their bond purchases and discussed 4 options, 2 sources with direct knowledge of the discussion said.' They talked about to what extent to cut the monthly buys at the same time maybe extending the deadline.
The "Fast Money" traders shared their first trades for the market open.