Action Forex |
- ISDA declares Credit event in Greece; Default is official
- Greek debt swap sees 85.8% take-up, ISDA’s decision on CACs looms
- Greece PSI deal completed: €172 bln bonds swaped, will enact CACs
- USDCAD’s fall extends to 0.9892
| ISDA declares Credit event in Greece; Default is official Posted: 09 Mar 2012 01:48 PM PST The International Swaps and Derivatives Association (ISDA) has decided unanimously today to declare that Greek’s bond swap constitutes a “credit event” and that “the right of all holders of the affected Bonds to receive payments has been reduced,” according to release published by the ASDA late Friday. Investors that bought Credit Default Swaps (CDS) on Greek debt will get paid. Nev |
| Greek debt swap sees 85.8% take-up, ISDA’s decision on CACs looms Posted: 09 Mar 2012 07:49 AM PST Various officials have been expressing their satisfaction with the outcome of the Greek debt swap deal which was made known on Friday at 6:00 GMT. The Greek ministry of finance announced it had completed a debt swap with participation at 85.8% vs expectations running as high as 90/95%. “This is an important step that will dramatically reduce Greece's medium-term financing needs and contribute to debt sust |
| Greece PSI deal completed: €172 bln bonds swaped, will enact CACs Posted: 08 Mar 2012 10:47 PM PST Euro is going through a buy the rumour sell the fact after Greek govt announced it had completed a debt swap with participation at 85.8% vs expectations running as high as 90/95%, although the number stays very much in line with the first initial pre-announcement by Greek offcials at the NY close. Holders of 172 bln euros worth of bonds in total have consented to bond offer vs €206 eligible with Greek official |
| USDCAD’s fall extends to 0.9892 Posted: 08 Mar 2012 08:52 PM PST USDCAD's fall from 1.0028 extends to as low as 0.9892. Lengthier sideways movement in a range between 0.9841 and 1.0050 is expected in a couple of days. As long as 1.0050 key resistance holds, the price action in the trading range is treated as consolidation of the downtrend from 1.0422 (Dec 14, 2011 high), and another fall towards 0.9700-0.9800 area is still possible. On the upside, a break above 1.0050 will in |
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