Wednesday Jul 30, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
German yields rise from 3-month low as Greek bonds jump on PMIs

By David Goodman & Lucy Meakin

Germany’s two-year note yield climbed from near the lowest in almost three months as data showed factory output in the euro area increased more than initially reported in January, damping demand for the safest assets.

Greek bonds advanced after a separate purchasing managers’ index showed the nation’s manufacturing industries expanded for the first time in 4 1/2 years last month. Yields on Italian and Spanish two-year securities fell to record lows. German bonds climbed last week amid speculation slowing inflation will prompt the European Central Bank will take more measures to stimulate the region’s economy at a policy meeting on Thursday.

“Across the board, they were pretty solid,” Owen Callan, an analyst at Danske Bank A/S in Dublin said, referring to the manufacturing gauges. “It supports the view that the euro zone recovery is still in place. If you were looking for the ECB to cut rates this week then this data doesn’t help that cause.”

Germany’s two-year yield climbed one basis point, or 0.01 percentage point, to 0.08 percent at 10:19 a.m. London time, after dropping to 0.06 percent on Jan. 31, the lowest since Nov. 7. The price of the zero percent note maturing in December 2015 fell 0.02, or 20 euro cents per 1,000-euro ($1,351) face-amount, to 99.855. The 10-year rate was at 1.66 percent.

An index based on a survey of purchasing managers in the euro bloc’s manufacturing industry increased to 54 last month from 52.7 in December, London-based Markit Economics said. That’s the highest since May 2011 and exceeded a Jan. 23 preliminary estimate of 53.9. A reading above 50 indicates growth.

A similar report for Greece’s manufacturing industry showed a reading of 51.2, the first reading above 50 since August 2009, according to Markit.

The yield on Greek 10-year bonds fell 14 basis points to 8.47 percent. The rate on similar-maturity Portuguese debt dropped to 4.93 percent, the lowest since June 2010.

German Finance Minister Wolfgang Schaeuble is planning additional financial aid for Greece, Der Spiegel magazine reported, quoting a Finance Ministry position paper. “There is no update,” Marco Semmelmann, a spokesman at the Finance Ministry, said by phone. “What the minister has repeatedly said still applies.”

Italian two-year yields fell four basis points to 0.89 percent, the lowest since Bloomberg started tracking the data in 1993. The rate on similar-maturity Spanish notes slipped to as low as 0.94 percent, also the least on record.

Germany’s five-year note yielded 0.66 percent after the rate slid to 0.64 percent on Jan. 31, the least since Nov. 21. The nation is scheduled to auction 4 billion euros of notes maturing in February 2019 on Feb. 5.

German bonds returned 2.1 percent this year through Jan. 31, Bloomberg World Bond Indexes show. Spain’s earned 2.9 percent and Italy’s gained 2.2 percent.

[Bloomberg]

ekathimerini.com , Monday February 3, 2014 (12:57)  
Six firms submit bids to lease Vouliagmeni beach
IMF´s Lagarde not sure yet about debt relief for Greece
Deals reached for twin plot on Afandou, for 42 million
More delays and red tape for companies’ tax rebates
Greek foremen avoid jail after firing on migrant laborers [Update]
A Greek fruit exporter and three foremen arrested last year over a shooting attack against migrant labourers avoided jail or were acquitted altogether on Wednesday, a judicial source said. T...
Wine cup used by Pericles found in grave north of Athens
A cup believed to have been used by Classical Greek statesman Pericles has been found in a pauper's grave in north Athens, according to local reports Wednesday. The ceramic wine cup, smashed...
Inside News
VOLLEYBALL
Volleyball national team second in European League
Much as the national volleyball team tried to repeat in the finals of the European League the feat it had achieved in the semifinals, it failed to overturn the advantage Montenegro had got f...
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. “I l...
Inside Sports
EDITORIAL
Populism eating up education
The fact that the issue of education is not topping the list of priorities for the current coalition government, but instead, has been left in the hands of incapable politicians is utterly i...
COMMENTARY
A valued but mistreated professional
I did not know much on a personal level about Dimitris Stefanou, Greece’s former administrative reform general secretary who died earlier this week at the age of 46. I did, however, have a s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek foremen avoid jail after firing on migrant laborers [Update]
2. Wine cup used by Pericles found in grave north of Athens
3. SYRIZA, DIMAR representatives to hold talks Thursday
4. Two of four suspects in Nea Manolada strawberry farm shooting convicted
5. Six firms submit bids to lease Vouliagmeni beach
6. IMF´s Lagarde not sure yet about debt relief for Greece
more news
Today
This Week
1. IMF's Lagarde not sure yet about debt relief for Greece
2. Coalition submits new proposals for Greek coastline
3. Six firms submit bids to lease Vouliagmeni beach
4. EU Commissioner Damanaki unlikely to return to Greek politics
5. Police arrest one, seek another three over counterfeit goods
6. Two of four suspects in Nea Manolada strawberry farm shooting convicted
Today
This Week
1. Unequal after death
2. Greek sovereign debt at 174.1 percent of GDP in first quarter
3. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
4. Quadriplegic woman on life support 'dies due to unpaid power bills'
5. Front-line threats
6. Defense Minister Avramopoulos to represent Greece at European Commission
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.