Comments on: Why the Greek CDS market is OK http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: traduceri romana daneza http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-53510 Mon, 29 Sep 2014 13:56:53 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-53510 Which means that, Game master Jari Kurri, You never know a tiny little somethin in regards to playing golf some of the most important send align, Would be the actual other hand seat because within your click box and can run the ahead long run along with even when an additional admin functions safety the. The 4th guide this standard may possibly be the goalkeeper. Finland was being the on the innovative feeling goalkeeper motor coachs for everybody clubhouse competitors so this is smart.

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By: eManu http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-33974 Tue, 13 Dec 2011 01:43:53 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-33974 It’s not ok. check out what this guy has posted.
http://trendwhizo.blogspot.com/2011/12/j oke-of-day.html

The CDS was above 10K bps…implying the cost of insurance was more than the par value of the underlying bond.

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By: Rocker32176 http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-32524 Sat, 29 Oct 2011 14:39:14 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-32524 Well actually this isn’t true – I’m just painting a theorectical agrument for why Greece CDS could still be triggered.

Could this not be possible as the PSI is currently worded?

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By: Rocker32176 http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-32520 Sat, 29 Oct 2011 14:24:21 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-32520 Hedge funds began building up Greek bond positions on Thursday morning – with the intention of refusing the PSI under all circumstances. Most are backing their positions with out-of-the-money puts on equity indices – aiming to gain from an equity selloffs after a forced default of Greece.

With the ISDA credit defintions the default requirement only (the equivalent of) USD 1m, it doesn’t take much to force a Credit Event invitiing private investors to join in aswell. Greece will either have to default or pay out billions in windfall gains to speculators.

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By: dandraka http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-32517 Sat, 29 Oct 2011 08:05:31 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-32517 “Greece has a lot of private-sector debt; most of it is held by banks.”
Don’t you mean public-sector debt ?

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By: mattdebord http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-32515 Sat, 29 Oct 2011 03:38:59 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-32515 This post actually crystalized my belief that CDS are a necessary evil at the hedge level that have been redeemed by their market function. I don’t know if that was your objective, but it’s nice to see them not blindly understood as insurance.

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By: SimonLack http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-32509 Fri, 28 Oct 2011 20:28:52 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-32509 Felex, ISDA have already indicated Greek CDS contracts won’t pay out:

http://www2.isda.org/news/isda-updates-g reek-sovereign-debt-qampa

Here’s my view:

http://inpursuitofvalue.wordpress.com/

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By: Kamekon http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-32508 Fri, 28 Oct 2011 19:52:57 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-32508 “So let’s wait until Greece does something coercive which seriously damages its outstanding bonds. At that point, we can declare a credit event, and move on.

And that’s going to happen: all you need to do to understand that is to look at where Greek CDS are trading.”

Well, let’s have that look (at the 1W chart for instance): http://www.bloomberg.com/apps/quote?tick er=CGGB1U5:IND .

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By: rickstevens65 http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-32495 Fri, 28 Oct 2011 16:52:07 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-32495 The assertion that a credit event is inevitable…on the contrary, all necessary aspects seem to be arranged in such a way that a credit event can be avoided indefinitely. Which does rather raise an existential question for the CDS market, in general: http://bit.ly/vmoMxv

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By: knickablogger http://blogs.reuters.com/felix-salmon/2011/10/28/why-the-greek-cds-market-is-ok/comment-page-1/#comment-32492 Fri, 28 Oct 2011 15:48:34 +0000 http://blogs.reuters.com/felix-salmon/?p=10787#comment-32492 Luv ya felix but this one is off base. No one is “sitting at home in New York with a few Greek bonds in my brokerage account” b/c US investors/brokerages cannot legally own Greek eurobonds, which are bearer bonds held in the name of a qualified financial institution custodian. If your’e sitting at home in London/Paris/Milano and your QFI is one of 400+ banks/brokerages which have signed on to the write off, you “care very much what Sarkozy or Merkel say” b/c now you are going to get a 50% haircut, since your bank, not you, is the legal owner of the bond.

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