Double Secret Selective Default
After more than a year of daily handwringing in the markets about the snails-pace exposition of the Greek debt crisis, suddenly things are zooming by in fifth gear. They may be moving faster than investors can actually digest them.
After the bell Monday, S&P put the Greeks on double-secret probation (the bonds, not the Deltas) or "selective default" in the parlance of the ratings agencies. And everyone took it in stride as a necessary move given the collective action clauses now attached to the debt. In fact, Greece "shrugged it off," according to the FT, which must be the first time in recent memory anything in that country was summarily dismissed without at least some outrage....206 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.