All hail Greece? Well, considering that the total return on the Greek 10-year note is up 400% since June 2012, it’s definitely time to consider the nation’s comeback more seriously.
The super-spike in price is greater than any technology stock in the Standard and Poor’s 500 Index over the same period.
On top of that, the once-beleaguered country just enjoyed an incredibly successful bond sale.
It sold $4.15 billion in five-year notes – yielding 4.95%.
Demand was nearly seven times more than expected!
Greek Prime Minister, Antonis Samaras, is pretty shrewd.
He started soliciting Wall Street’s Big Boys for his bond sale months ago, and bluebloods like BlackRock Inc. and Invesco showed up with guns a-blazing.
Indeed, the situation regarding Greece is getting really juicy.
You’ll recall that Greece had been locked out of international bond markets for four years.
So is it time to jump at these mouthwatering yields Greece offers?
The answer ultimately comes down to two things…
- The sustainability of Europe’s improving economy, and…
- The fundamentals in Greece.
I invited back emerging markets expert, Frank Holmes, to get to the heart of the matter.
Frank is the CEO of U.S. Global Investors, Inc., an investment management firm with a longstanding history of expertise in gold, natural resources and emerging markets.
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Frank is flanked by European analyst and portfolio manager, Tim Steinle.
They’ve added Greek banks, Alpha and Piraeus, to the Emerging Europe Fund (EUROX).
These banks recently recapitalized, and with the Greek banking industry now consolidated to only four major banks, they’re poised to benefit from the economic recovery.
To hear what they have to say about this emerging situation in Greece, just click on the link below…
Founder, Wall Street Daily