Friday, September 02, 2011

Greek Bonds Plunge and Yields Soar

Greek one year debt yields have surged this afternoon by 1000 base points (according to CNBC TV) while returns on two year bonds rose by 2.64 percentage points to 45.92%, widening the yield spread over similarly dated German schatz by 2.47 percentage points to 45.39%. The five-year yield rose by 83 basis points to 28.56%, while the 10-year yield climbed by 16 basis points to 17.54%.

The same WSJ report gives the following cause for the departure of the troika team (reported earlier this afternoon on this blog) as follows:

A Greek official had said earlier Friday that visiting troika of international inspectors has been suspended amid a dispute over the country's ability to meet its deficit targets.


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