- Sees significant progress by Greece on implementing its austerity programme
- No reason to doubt commitment of Greek govt to continue IMF/EU programme
Meanwhile in the real world……
- Greek 10 year govt bond yields up 29 bps on day to euro-era record high of 15.86%
- Greek 5 year credit default swaps rise 37 bps on day to 1,375 bps
EUR/USD sits at 1.4685, to the pip where it was when I sat down this morning.
