Short-dated notes.

Kathimerini English - - Business & Finance -

In­vestors should buy Greek gov­ern­ment notes ma­tur­ing in 2012, bet­ting that the nation won’t de­fault un­til af­ter that, Com­merzbank AG rec­om­mended. “Very short-dated Greek gov­ern­ment bonds are too low in price terms, there is ob­vi­ously a de­cent chance to get the full money back,” David Sch­nautz, a fixed-in­come strate­gist at Com­merzbank in Lon­don, said by phone yes­ter­day. “The re­struc­tur­ing or re­pro­fil­ing will take place later and we think the mar­ket is pric­ing in too ag­gres­sive steps, too early.” Bonds from the euro-re­gion’s most in­debted na­tions, Greece, Ire­land and Por­tu­gal, have slumped since the start of the year as traders added to bets that they will have to re­struc­ture their debt bur­dens. (Bloomberg)

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