Greece is close to attempting a multibillion-euro bond issue, in what will be a critical test of the country's market credibility as it battles a spiralling debt crisis and public sector strikes.

希腊可能尝试发行数十亿欧元债券，这对该国的市场可信度将是一个重大考验。希腊目前正在应对日益严重的债务危机和公共部门罢工。

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Yield gap analysis suggests there can be another 20% upside for the market if earnings yield is to close the gap with the 10-year bond yield.

收益率差距分析表明要使股市收益率接近10年期债券收益率，市场还需上涨20%。

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In a liquid market, corporate bond ETF market prices are held close to their NAVs by an arbitrage mechanism.

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"No one can question the deterioration in the sovereign balance sheet or banking system, but it seems counterintuitive to cite possible financing gaps when a large, " bond issuance was about to close, said Richard Segal, emerging market strategist at Jefferies International.

WSJ: Slovenia Bond Sale Postponed

Two years ago, after the Fed forced interest rates close to zero, I began writing about the dangers lurking in the bond market that were going to favor equities.

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