Corporate foreign exchange news

Greece 'all but forgotten' on trading floors

Wednesday, 22 September 2010 09:36:34 GMT

Published by Zeb Bham
Eight months on from the beginning of the Greek debt crisis, markets have all but forgotten about the instability that threatened to bring the US and Europe to its knees.
So claims MarketWatch's analyst Mark Hulbert, who has pointed to a recent Greek debt sale as evidence that the country is once more deemed to be in sound economic health.
He explained that while "you couldn't even give Greek debt away", in a recent sale of Treasury bills, demand outstripped supply by a ratio of 6.25 to 1.
"No wonder they kid each other on Wall Street that the long term lasts only from lunch to dinner," commented Mr Hulbert.
Forex brokers and other market participants will today (September 22nd) be watching bond sales being carried out in Portugal and Germany with keen interest.
Speaking to Reuters, traders said there is a perception that the new five-year German bonds are trading "cheap".
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