The government bonds of peripheral eurozone countries thus became toxic. Given the unprecedented nature of the Greek default, the market valuation of peripheral debt has been fluctuating widely, still searching for “fundamentals,” such as deficit or debt levels, that could explain the evolution of risk premia over time.
今年初希腊的事实违约打破了投资者的这一幻觉。欧元区外围国国债也因此变为有毒资产。希腊违约的性质是前所未见的，受此影响，市场对外围国债务的估值开始大幅波动，直到现在还在寻找能够解释风险溢价随时间变化演进的“基本面”，如赤字和债务水平等等。