Spanish 10-Year Bond Yield Rises Above 2.5% Amid Greece Impasse
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Spanish government bonds dropped, pushing the 10-year yield above 2.5 percent for the first time since August, as Greece signaled it won’t make further concessions this week to unlock the bailout funds needed to avoid default.
Irish and Portuguese bonds also declined as concern over the turmoil in Greece increased investor perceptions of risk in other peripheral euro-area nations. Greece has no plans to present new proposals at a meeting of European finance ministers in Luxembourg on June 18, Finance Minister Yanis Varoufakis told Bild newspaper. German 10-year bunds rose for a fourth day, boosted by demand for the assets as a haven.