Greece Has Highest Default Probability, 5Y CDS Spread at 1028, 2-Year Bonds Yield 15.79% (Charts)

Greece 5Y CDS -
I haven't blogged about Greece in a while so here is a checkup on Greek CDS and government bond yields. According to CMA Datavision's Sovereign Risk Monitor, Greece has the highest default probability percentage at 57.42%, with a 1028 mid-spread (in basis points). You can check out Greece's CDS quote and chart (Greece CDS USD SR 5Y:CGGB1U5) at It is testing resistance.

Greece 10Y Bond Yield - Bloomberg
Greece Government Bond Yields are also testing their highs. 10-Year GGBs yield 12.74%, 5-Year GGBs yield 14.36% and 2-Year GGBs yield 15.79%, as of April 1. According to, 10-Year Greek Government Bonds trade at a 9.58 spread to German Bunds and a 9.51 spread to 10-Year Treasuries. Is it time again for Eurozone volatility? What about the Euro. I'm watching the EUR/USD downtrend line on the 5-Year chart, as well as the short term uptrend line (see Daily FX link).

Greece in the News:

Sovereign CDS sector eyes day of reckoning (Financial News, 4/4/2011)

Germany Press: IMF Pushes For Restructuring Of Greece's Debt (Automated Trader, 4/3/2011)

EURUSD: A Double Top Taking Shape? (Daily FX, 4/3/2011)

Greek FinMin rules out debt restructuring (Reuters, 4/2/2011)

Papaconstantinou Says Still Chance for Bond Sales in 2011 (Bloomberg, 4/1/2011)

Portugal, Greece Downgraded by S&P on Restructuring Concerns (Bloomberg, 3/29/2011)