fiery friday, page-4

Below is the figures over the last 6 months of the spread difference....alarming where how much it has widened over 6 months from 295 to nearly 1000!!

Greek CDS, bond yield spreads rise
LONDON
Thu Jun 24, 2010 4:18am EDT
June 24 (Reuters) - The cost of protecting government debt against default in Greece hit a record high on Thursday while its bond yield spread widened ahead of Greek bonds being dumped by index fund managers at month end.

Five-year credit default swaps (CDS) on Greek government debt rose to 958 basis points from 934 bps at the New York close on Wednesday, while other peripheral euro zone sovereign CDS edged higher, said CDS monitor CMA DataVision.

It means the cost rises to 958,000 euros to protect 10 million euros-worth of Greek government bonds. CMA said the probability of default by Greece within five years now stood at 56.5 percent.


April 2010

645.7 bps from 634 bps at the New York close on Thursday, close to an intraday record high of 650 bps marked on Thursday.

It means it costs 645,700 euros to protect 10 million euros-worth of Greek government bonds.

March 2010

303.5 basis points from 295.3 bps at the New York close on Friday, according to CDS monitor CMA DataVision.

It means the cost rises to 303,500 euros to protect 10 million euros-worth

December 2009

211 basis points, up 20 basis points from the New
York close on Monday, according to CMA DataVision.
This means it now costs 211,000 euros per year to insure an
exposure of 10 million euros of Greek government bonds, compared
with 191,000 euros on Monday.