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Friday, January 13, 2012 10:49 AM

Greek 1-Year Bond Yield Tops 408 Percent; Hard Default Appears Imminent

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In conjunction with a "Pause for Reflection" and stalled talks by Greece Bank Creditor Group over the benefits of further "voluntary" cuts on Greek debt, yield on 1-year Greek bonds soared over 400%.

A hard default appears imminent.

Mike "Mish" Shedlock
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