Posted by on May 12, 2017 4:40 pm
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Categories: ASE Business Creditors Economy Forms of government Geography of Europe Greece Greek government Republics World

After 13 straight days higher – the longest streak since 1991 – the greek stock market fell today. This drop comes a day after we warned of the misplaced confidence surrounding the Greek government’s decision to issue debt once again…

As Bloomberg reports, the benchmark ASE Index fell on Friday, breaking its longest winning streak in 26 years. It rallied 19 percent from April 21 through Thursday, while investors poured money into a fund tracking the country’s shares, as Greece reached an agreement with its creditors on the technical issues of a second bailout review.

As a reminder, the last time Greek stocks were this overbought was September 1999 – which was followed by a 77% decline…

And the last time Greece raised debt, this happened…

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