S&P Downgrades Greece to Junk, Greek 2Y-Bond at 15%, CDS at 787bps, National Bank of Greece -14.24% (NBG)

S&P downgraded Greece to junk.  The Greek 2-year bond yields 15.07%, Greek 10-year bond yields 9.76%, CDS (credit default swaps) are at 787 basis points (highest default probability on CMA Datavision sovereign monitor), the Dow Jones Greek Equity Index is -6.65% (below support) and NBG (National Bank of Greece) is -14.24% to $2.66.
"Greece's debt has been downgraded to junk status by Standard & Poor's amid concern it was not able to take steps needed to tackle its economic crisis." [source: BBC]
Looks a lot like the pattern of Lehman Brothers.  Who will bail this country out... or is a default actually coming.

Moody's Downgrades Greece, 10Y Bond Yield 8.84%, CDS 633bps, Greek Shares Testing February Low, Euro Needs Help (Charts) (April 23, 2010)

Pricing of Greek CDS, 10Y Bond Yields Sense Risk (CDS 399bps, 10Y 6.85%) (January 31, 2010)

 NBG (National Bank of Greece (Courtesy of Stockcharts.com)

$GRDOW (Dow Jones Greece Stock Index)

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