Latest check-up on GGGB10YR reveals further deterioration - the yield is now 7.32%, which is 17bps wider than yesterday all-time wide. The spread to Bunds is now a whopping 424 bps. ZeroHedge reported yesterday that 450 bps is about as much as Greece will be able to stand. At this rate of deterioration, we will reach that point very soon, possibly by the end of the day or by Monday at the latest.
A European "Lehman weekend"?