Sunday, March 11, 2012

Credit Event

Credit Event:
Greece Default at last it has happened. Thanks God its orderly default and not disorderly default.
This is what financial expert around the world where waiting for and atlast it has come true that Greece is declared bankrupt.
The ISDA said the use of "collective action clauses (CACs) to amend the terms of Greek law governed bonds issued by The Hellenic Republic such that the right of all holders of the Affected Bonds to receive payments has been reduced.” The "credit event" ruling means a maximum of $US3.16 billion of net outstanding Greek credit default swap contracts could be paid out, though the actual amount is likely to be lower because bondholders are not losing all of their original investment .ISDA said the auction will be held to determining the actual payout amounts on March 19.Greece said it would use the newly passed legislation that included the CACs to force private creditors into a bond swap. This follows creditors' voluntary tendering of 85.8 percent of the 177 billion euros in bonds regulated by Greek law. The use of CACs should boost participation to an estimated 95.7 per cent.

Credit default swaps tied to Greek sovereign debt have been triggered.
Dollar is expected to strengthen from here .We expect Dollar Index to resume its up move once again.

Thanking You
Atul Sikrai
Sr Vice President
wiTdom investment advisory

Blog Report Card:

Page views all time history 4,200 Page Views
PostsRefresh Now Day Week Month All time2009 May – 2012 March
Soldier and Software Engineer
May 25, 2011, 2 comments 393 Page views
Shekchilli, Gangu Teli, Mitti ka Madhav and Raja B...
Jun 15, 2010 196 Page views
Dark Eagle is on Hunt.
Oct 7, 2010 130 Page views
Hidden Secrets Of Wealth Creation.
Dec 1, 2010 130 Page views
Sister of Inspiration
Apr 8, 2011 128 Page views
Liquidity Black Holes About To Burst.
Nov 11, 2010 86 Page views
Sell Tail Starts
Mar 10, 2011 76 Page views
Santa Claus Rally
Dec 15, 2011 69 Page views
Nifty 6066 ,Bharti Airtel
Aug 4, 2010 60 Page views

Vision 2020 Sensex 100000
Feb 12, 2011 57 Page views




No comments:

Post a Comment