Also the lower interest rates you can get now may encourage the companies that owe them money to refinance their bonds and pay MXQ back as an early redemption. Any early redemption will go straight to the lenders and further reduce the trust's gearing.
I still the Greek election is the catalyst for the current markets. If it goes the right way and the pro-bailout parties prevail then we will have a big sigh of relief and a significant rally and they will get a deal across the line to restructure the fund.
If the election goes the other way, then hang on to your hats, although I would not expect the functioning of the fund to be any different given the blocks they have in place to stop the fund from being sold off before June 2014.
MXQ Price at posting:
24.0¢ Sentiment: None Disclosure: Held
