ECONOMY

Greek bonds drop after Tuesday’s growth

Greek 10-year bonds snapped two days of gains on Wednesday as Finance Minister Yanis Varoufakis met ECB President Mario Draghi and is scheduled to meet his German counterpart Wolfgang Schaeuble in Berlin on Thursday.

Greek 10-year yields rose 16 basis points, or 0.16 percentage point, to 9.68 percent.

The 2 percent bond due in February 2025 fell 0.75, or 7.50 euros per 1,000-euro face amount, to 60.96.

Greece’s three-year notes – that on Tuesday rose for the first time in seven days after Varoufakis outlined plans to swap some debt for new securities – dropped on Wednesday to push their yield up four basis points to 16.33 percent.

[Bloomberg]