SCOREBOARD: Greek spotlight

The market reaction to Greece's bailout was mixed, with big moves in the commodity space.

The market reaction to news that Greece would get the second €130 billion bailout has been mixed so far, stocks in Europe actually fell – the Dax was off 0.6 per cent, the CaC off 0.2 per cent and the FTSE down 0.3 per cent – while the euro is down about 20 pips or so to 1.3243 (from 1630). Admittedly there are still concerns about how committed Greece actually is to reform, but these aren’t new. More broadly, and as I mentioned yesterday, investors are becoming much more relaxed about the European crisis. The hunt of for yield is picking up – which is why Italian and Spanish bond yields continue to fall (down another 4 or 5 basis points last night to 5.43 per cent and 5.1 per cent). Indeed Spain sold off over €2 billion in bills last night at yields averaging 0.396 per cent for the 3-month bills and 0.764 per cent for the 6-months. Cover was very strong at over 10 for the 6-months and 4 for the 3-months.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter your SMS code' }}

A text message with your verification code was just sent to {{user.DayPhone}}

We cannot send you a code via SMS to {{user.DayPhone}}

Hi {{ user.FirstName }}, please provide your mobile number.

{{ content.trialHeading.replace('{0}', user.FirstName) }}

We'll send you a text message with a verification code to start your free trial.

Log in

{{ content.upgradeHeading.replace('{0}', user.FirstName) }}

The email address you entered is registered with InvestSMART.

Login or to reset your password, select Forgotten password

Email is required.
Email must be a valid email.
Password is required.
First name is required.
Last name is required.
Mobile phone number is required.
Mobile phone number is invalid.
You must accept the terms and conditions.

Already an InvestSMART member? Log in

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

OR

Looks you are already a member. Please enter your password to proceed

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

Your membership to InvestSMART Group recently failed to renew.


Please make sure your payment details are up to date to continue your membership.


Having trouble renewing?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

You've recently updated your payment details.

It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.


If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.


Still having trouble viewing content?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

{{ upgradeCTAText }}

Updating information

Please wait ...

Trial

{{ productPrice }} / day
( GST included )
Price $0
Discount -{{productDiscount}}
GST {{productGST}}
TOTAL   (inc. GST) {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

Related Articles