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4 Jun 2015
Markets less convinced on the upbeat Greek rhetoric – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team quotes that rhetoric from the Greek negotiations continues to be upbeat, but markets appear less convinced.
Key Quotes
“EC President Juncker commented on having “long, supportive discussions.” Greek PM Tsipras sought to calm investors about Friday’s payment, saying it won’t be a problem. At the same time, however, the PM seems to be holding his ground on several of the proposed spending cuts.”
“Greek yields are up today, but less so than in other sovereign debt markets. In the equity space, however, the ASE index is down 2.4%, considerably more than other European indices.”
“Also of note, March unemployment for Greece came in at 25.6%, worse than expected, and reaffirming the dire situation the Greek economy is in – as if that wasn’t already obvious.”
Key Quotes
“EC President Juncker commented on having “long, supportive discussions.” Greek PM Tsipras sought to calm investors about Friday’s payment, saying it won’t be a problem. At the same time, however, the PM seems to be holding his ground on several of the proposed spending cuts.”
“Greek yields are up today, but less so than in other sovereign debt markets. In the equity space, however, the ASE index is down 2.4%, considerably more than other European indices.”
“Also of note, March unemployment for Greece came in at 25.6%, worse than expected, and reaffirming the dire situation the Greek economy is in – as if that wasn’t already obvious.”