Disco priced in?
A Greek default maybe but the ramifications? Look I don't like to obsess like some over Greece but the situation is far from over and the market can't price in what it doesn't know IMHO.
Like I posted the IIF are confident - and it would not be good for the Bond holders not to agree as they would be looking at the "wider" implications on their balance sheets other than the greek bond losses. So too it seems CDS are not much "insurance" given the latest ISDA ruling......
BTW "Don't listen to me, then we'd all be stuffed" indeed:P
xjo weekebd zoomba lounge, page-110
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