Greek 10-year bonds slumped to a record on concern the nation will use collective action clauses, or CACs, to enforce losses on bondholders. The price of the 5.9 percent bond maturing in October 2022 dropped to 19.14 cents on the euro even after the International Swaps & Derivatives Association ruled that insurance against bondholder losses doesn’t need to be paid as yet. ISDA’s determinations committee said today the situation is “still evolving” and it may rule in favor of a payout for credit default swaps on Greek bonds in the future.
Thursday, March 1, 2012
Greek Bonds Below 20 Cents
Greek 10-year bonds slumped to a record on concern the nation will use collective action clauses, or CACs, to enforce losses on bondholders. The price of the 5.9 percent bond maturing in October 2022 dropped to 19.14 cents on the euro even after the International Swaps & Derivatives Association ruled that insurance against bondholder losses doesn’t need to be paid as yet. ISDA’s determinations committee said today the situation is “still evolving” and it may rule in favor of a payout for credit default swaps on Greek bonds in the future.
Crude Jumps As Saudis Deny Pipeline Explosion
NEW YORK (Dow Jones)--Oil futures jumped to fresh highs after the close of markets Thursday after Middle Eastern news organizations reported that an explosion destroyed an oil pipeline in Saudi Arabia. The Saudi government denied those reports, and they could not be independently confirmed. Nymex oil futures hit a new nine-month high of $110.55 a barrel, and Brent futures on the ICE Futures Europe exchange hit a four-year high of $128.40. Both contracts settled back somewhat afterward, with Nymex dropping back below $109 and Brent falling below $127.
Extreme ups and downs for wheat, corn, soybean, and oat futures
Wheat, corn and soybean futures fall, while oat futures are flat on the CBOT
CHICAGO — Grains futures mostly fell in early trading Thursday on the Chicago Board of Trade. Wheat for May delivery fell 3 cents to $6.65 a bushel; May corn fell 3 cents to $6.55 a bushel; May oats were unchanged at $3.1450 a bushel; while May soybeans fell 4 cents to 13.16 a bushel.
Arabica coffee prices fall and sugar output is up 15%
Top Stories Of The Day
Arabica Coffee Prices To Fall On Output Growth, Weak Demand-BarCap Arabica coffee futures are likely to fall due to further growth in global production and top-grower Brazil's return to an on-year crop, Barclays Capital said Thursday, with sluggish consumption growth expected as demand is more reliant upon mature economies than most other commodities.
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