5 Jun 2015
Greek yields jump as Athens withholds IMF payment
FXStreet (Mumbai) - The 10-year Greek yield jumped more than 60 basis points on Friday after the Greek government delayed its EUR 300 million loan repayment to the IMF.
Greek Economic Minister Stathakis said the Greece government accepted IMF option to delay payment, while stating that the government cannot accept the latest proposals for a cash-for-reforms deal put on the table by its international lenders but was prepared to negotiate a compromise.
The Greece 10-year yield now trades 67.9 basis points higher at 11.402%. Meanwhile, the 2-year yield has shot higher to 24.485%, from the previous session’s close at 2.26%. The sharp rise in the short-end yields further improved the inversion in the yield curve.
Greek Economic Minister Stathakis said the Greece government accepted IMF option to delay payment, while stating that the government cannot accept the latest proposals for a cash-for-reforms deal put on the table by its international lenders but was prepared to negotiate a compromise.
The Greece 10-year yield now trades 67.9 basis points higher at 11.402%. Meanwhile, the 2-year yield has shot higher to 24.485%, from the previous session’s close at 2.26%. The sharp rise in the short-end yields further improved the inversion in the yield curve.