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.
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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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