ECONOMY

Greek 10-year bond yields drop to 10.08 pct

Greek 10-year bond yields dropped to 10.08 percent on Friday after climbing as high as 10.8 percent on Thursday, the most since September 2013.

Investor concern that Greece will miss debt payments is reflected in three-year yields that are more than three percentage points more than those on 10-year debt.

Typically investors get more for holding longer-dated securities.

“The price levels portray that the market is very afraid of another round of private sector involvement in debt restructuring or the debate about Greece potentially leaving the eurozone,” said David Schnautz, a New York-based fixed-income strategist at Commerzbank AG.

[Bloomberg]