Greek yields climb after Riga summit
German bond yields headed for their first weekly fall in five weeks on Friday as the market focused again on central banks’ continued use of heavy stimulus, which is helping to bring stability after weeks of violent price swings.
Greece was the exception in the European bond market, as its yields rose after the latest talks with creditors failed to deliver any solution to its debt crisis.
Greek bonds remained under pressure, with two-year yields rising 75 bps to 24 percent as European leaders told Athens to return to the negotiating table for “intensive work” to wrap up a reform agreement before cash runs out.
Greek officials say it could default in as little as two weeks after technical-level talks with its European Union and International Monetary Fund creditors reached an impasse this week.
[Reuters]
