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‘Ridiculous spreads’ highlight relative strength of Czech, Polish bonds

Source: http://feedproxy.google.com/~r/FrontierMarkets/~3/Roe2eHGnuDU/
Posted on Monday, January 26th, 2009 | In Czech Republic, Emerging Markets, Frontier Markets, Poland
Contributed by: Jason G. Wulterkens (http://frontiermarkets.wordpress.com) -

Bloomberg reports that “some euro-region members now pay more to borrow than emerging markets such as Poland and the Czech Republic. The spread between a Czech 10-year sovereign note and the German bund was 78 basis points, less than Italy, Spain, Greece, Portugal, Belgium and Ireland.”  The Czech Republic is rated A at S&P, and Poland A-.

Prices now reflect odds of between 10 percent and 20 percent that the euro-region will disintegrate following a series of credit downgrades from Standard & Poor’s this month, according to BlackRock. The difference in yields, or spreads, between [Greece, Spain and Italy's] 10-year bonds and those of benchmark German securities was close to the widest today since the euro’s debut in 1999.

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About Jason G. Wulterkens (http://frontiermarkets.wordpress.com)
Jason G. Wulterkens is a licensed attorney in the United States, who also has a degree in economics and a certificate in alternative dispute resolution (ADR). Anything and everything about the so-called “frontier” markets, including but not limited to their geopolitics and financial markets. Jason can be contacted at jgerritwulterkens@gmail.com.

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