Greece to Sell Bills as Two-Year Yield Tops 20%: Euro Credit
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Greece plans to sell 1.25 billion euros ($1.78 billion) of 13-week Treasury bills today as growing speculation the country will need to restructure its debt pushed bond yields to euro-era records.
Greece’s two-year bond yield exceeded 20 percent yesterday, as official denials that the nation was preparing a restructuring failed to convince investors. The yield on 10-year debt added 5 basis points to 14.60 percent today and has jumped more than 300 basis points since Feb. 15 when Greece last sold 13-week bills at a yield of 3.85 percent.