Greece: successful 13w T-Bills auction

Greece sold EUR 1.95 billion 13-week Treasury bills today yielding 3.65 percent, more than twice the level of the previous sale in January (1.67%). The country still needs to EUR 10 + billion by end of May to finance maturing bonds and the deficit. This seems to confirm my reasoning: investors are ready to finance Greece short term for a good yield. I doubt they will finance Greece long term, hence the importance of the May deadline.

The yield on Greece’s 10-year bond reached 7.82 percent today, the highest since before the start of the euro, and more than twice comparable German debt.

Source:

Hellenic Republic - Public Debt Management Agency: Auction results of 13w T-Bills

http://www.greekdebtoffice.com/%28S%28ibm2kd450q1ver45kq2sxi45%29%29/NewPage.aspx?pagenb=614

Bloomberg: Greek Bailout Talks Could Take Three Weeks; Bond Payment Looms

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ahSclTWKLKCE

Bloomberg: Greek 3-month bill yield doubles on default concern
http://www.bloomberg.com/apps/news?pid=20601087&sid=afhSqD1Mas6c&pos=4