More on this and developments in bond yields over the next few weeks. Greek (and Italian and Spanish) bond yields are down. Credit ratings have stopped deteriorating and Greek ratings have even improved recently. Certainly a temporary stability as emerged and the political noises are less worrying than they were a few months ago.
Would I invest in Greek bonds just yet? Probably not. Not because I think they will necessarily default or leave the Euro, but because the maximum upside just isn’t that great compared to equity like investments and the risk of loss still potentially higher.
A more interesting question is whether I would invest in Spanish property. I haven’t worked that part out yet.