The Greek tragedy’s effect on yield

Greek debt negotiations could accelerate interest rate cuts in Australia.

Summary: The last time Greece was in crisis five years ago, Europe was in a desperate situation. The problem was contained because the troika bought out the Greeks’ loans held by European and international banks. Now, Europe would have to lend even more money to Greece to avoid a Greek collapse, which would be back to square one – the US would hike rates and the RBA would cut.

Key take-out: If the US does not increase rates in response to the Greek crisis, this would depress the US dollar and escalate our own currency, meaning our interest rates would be lowered faster than is currently on the agenda.  

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