Chart of the week: Greece – a better credit risk than the US?
The yield on the five-year Greek government bond has slipped beneath its US counterpart. For a country that has borrowed too much since its foundation to be considered a better credit risk than Uncle Sam seems absurd.
Sometimes "something you hadn't been following... is highlighted to you andyou stagger back in shock", says Albert Edwards of Societe Generale. The yield on the five-year Greek government bond has slipped beneath its US counterpart. For a country that has borrowed too much since its foundation to be considered a better credit risk than Uncle Sam seems absurd. But it is a snapshot of how impressed investors are with Greece's recovery from the debt crisis, says Matthew A Winkler on Bloomberg.
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