CNN mentioned that Greece has senior debts to pay by the end of May, and I have some short positions that may need tweaking. Does anyone have more details? Thanks.
the reality is the worry is more about debt downgrades from Moodys and S&P. Think bank downgrades in 2008. Once they start they don't stop. Everyone knows it and everyone wants to avoid the fallout. Therefore it could get out of hand very quickly and spread to other countries. And of course it will all be lead by what? yup you guessed it Credit Default Swaps. Folks won't wait around this time. They will shoot first and ask questions later.
Very good point. Moody said it may downgrade Greece from A2 rating, and S&P may downgrade it from BBB rating; both mentioned they may do so at end of March. My concern if whether this may occur earlier. I don't have experience with the Russian default, as I was in school then. Did the actual default do much damage? Or was most of the damage already done by the time of default?
in 1998? oh people got smoked who were in Russia like Soros lol. The market itself took a good drop and then bounced through the roof. Oddly enough the day Cramer called for the end of the world. http://en.wikipedia.org/wiki/1998_Russian_financial_crisis