ECONOMY

Greek 5-year yields rise 55 bps to 7.62 pct

German bunds advanced and Greek securities declined on Monday, extending losses that sparked a sell-off in the periphery last week.

Greek five-year yields rose 55 basis points to 7.62 percent, after touching 7.94 percent on Friday, the highest since April.

The 10-year yield fell one basis point to 8.07 percent after climbing 147 basis points last week and reaching 9.10 percent, the highest since January.

“The rule of thumb is the better [opposition party] SYRIZA does in the polls, the worse for Greek bonds, and recently the worse for other peripherals, too,” said David Schnautz, a fixed-income strategist at Commerzbank AG in New York.

[Bloomberg]