As the sun sets in Athens, we thought a moment of reflection was worthwhile. Greek stocks are now down 13% – the biggest single-day drop since (drum roll please) the crash of 1987… led by total carnage in Greek banks (down 15-25% on the day). Greek bond yields exploded, 3YR +183bps to a new post-bailout high at 8.32% (and inverted to 10Y).
Worst day since the 1987 crash for Greek stocks…
As every smart money hedge fund traders best trade of the year – Greek Banks are destroyed…
leaving 3Y bond yields smashed higher…
h/t @Not_Jim_Cramer
via Zero Hedge http://ift.tt/1BwqZaG Tyler Durden