Wednesday October 1, 2014 Search
Weather | Athens
26o C
17o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
European bonds decline amid speculation rally losing momentum

By Neal Armstrong & Eshe Nelson

The euro-areaís higher-yielding government bonds declined amid speculation a rally that has driven borrowing costs to record lows is losing momentum.

Portugalís 10-year bonds fell for a fourth day, while those of Spain and Italy declined for a second day. Securities from Portugal to Greece have surged since June 5, adding to this yearís rally, when the European Central Bank announced a package of stimulus measures to boost liquidity in the euro area. German bunds fell for the first time since June 10 as stocks snapped a two-day drop, damping demand for the safest fixed-income assets.

ďThereís been a fantastic rally and the bias in the market is to look for an excuse to shorten up on duration,Ē said Padhraic Garvey, head of developed-market debt strategy at ING Groep NV in London. ďWe have seen some decent outflows from eurozone funds, both in the core and periphery, and thatís beginning to weigh on the market.Ē

Portugalís 10-year yield rose five basis points, or 0.05 percentage point, to 3.46 percent at 11:57 a.m. London time after falling to 3.23 percent on June 10, the least since 2005. The 5.65 percent bond maturing February 2024 fell 0.405, or 4.05 euros per 1,000-euro ($1,357) face amount, to 117.68.

Spainís 10-year yield rose three basis points to 2.70 percent and the rate on Italyís 10-year debt increased two basis points to 2.81 percent.

The average yield to maturity on bonds from Greece, Ireland, Italy, Portugal and Spain fell to 1.91 percent on June 9, the lowest since the formation of the currency bloc in 1999, according to Bank of America Merrill Lynch indexes. It was at 1.97 percent as of Monday.

Portugalís securities earned 16 percent this year through Monday, Bloomberg World Bond Indexes show. Italyís returned 8.7 percent and Spainís gained 9.6 percent. [Bloomberg]

ekathimerini.com , Tuesday June 17, 2014 (14:22)  
NBG Pangaea eyes listing on foreign bourse, huge portfolio
Out-of-control unpaid bills bring PPC to its knees
Banks feel optimistic ahead of stress test results
S&P upgrades OTEís credit rating and revises outlook
Would-be commissioner Avramopoulos sets out priorities on migration
Dimitris Avramopoulos, the EU commissioner-designate for migration and home affairs, on Tuesday sought to set out his priorities for a post regarded as more crucial than ever amid increasing...
Money ring sent†4.5 mln abroad
Two Afghan employees at a currency exchange bureau in central Athens and a Greek alleged to own the establishment were detained on Tuesday in connection to the alleged illegal transfer of mo...
Inside News
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
SOCCER
Karamanos punishes Michel for deeming him surplus
Atromitos forced Olympiakosís first loss this season in all competitions on Saturday to allow PAOK to go alone on top of the Super League table on Sunday. Odds-on title favorite Olympiakos l...
Inside Sports
COMMENTARY
Next-day jitters
It is usual for Greek governments, whether one-party or coalitions (which are normally loath to actually work together), to claim that their only real challenge is dealing with the countryís...
EDITORIAL
No sweet debt deals
The lionís share of Greeceís debt is held by European Union member states and the International Monetary Fund. A writedown of the European part of the debt would require the approval of the ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
†RECENT NEWS
1. NBG Pangaea eyes listing on foreign bourse, huge portfolio
2. Out-of-control unpaid bills bring PPC to its knees
3. Banks feel optimistic ahead of stress test results
4. S&P upgrades OTEís credit rating and revises outlook
5. Athens tourism fuels hotel occupancy
6. Would-be commissioner Avramopoulos sets out priorities on migration
more news
Today
This Week
1. Next-day jitters
2. Roma camp off Mesogeion Avenue set for demolition amid reactions
3. No sweet debt deals
4. Greek unemployment dips to 27 pct in June, but still highest in EU
5. Commissioner-designate Avramopoulos to face three-hour interview on EU's migration portfolio
6. Roma camp evacuation postponed; flow resumes on Mesogeion Avenue
Today
This Week
1. Greece may opt for unusual president to avoid snap polls, Venizelos says
2. Woman allegedly buried alive by accident in northern Greece
3. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
4. Should you bet with Kissinger on where the world is heading?
5. Cypriots divided by 1974 war seek Shariah hub
6. The shocking thought of euro-dollar parity
†††Find us ...
††... on
Twitter
†† ††... on Facebook ††
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.