ECONOMY

Greek yields climb as gov’t announces plans for new bonds

Greek bonds saw their yields climb as the government announced it plans to improve its yield curve with sales of seven- and 10-year government debt, according to the 2015 draft budget presented on Monday by Alternate Finance Minister Christos Staikouras.

Greek 10-year yields increased nine basis points to 6.44 percent and the 30-year rate climbed seven basis points to 7.06 percent.

Greece’s improving public finances haven’t convinced its euro-area partners to accept Prime Minister Antonis Samaras’s plan for a clean bailout exit at the end of 2014, two officials with knowledge of the matter said.

While the yield has increased in the past month after reaching as low as 5.52 percent on September 8, it’s still two percentage points lower than at the start of the year.

[Bloomberg]