ECONOMY

Greek yields surge on report Greece asked IMF for loan repayment delay

Greek two-year yields surged on Thursday to their highest since the bonds were issued last year after the Financial Times reported that the International Monetary Fund had rebuffed a request from the country to delay loan repayments.

Two-year bond yields rose more than 240 bps to 26.26 percent, their highest since they were sold in July 2014. Ten-year yields were up 81 bps at 12.77 percent, while five-year yields were up 133 bps at 18.41 percent .

Athens is dangerously close to running out of cash, with its reserves expected to dip into negative territory after April 20, a source familiar with the matter has previously said.

[Reuters]