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EUROPEAN DEBT UPDATE

By Rom Badilla, CFA – Bondsquawk.com

Greek bonds as well as other debt securities of peripheral countries continue to rally amid ECB intervention. Greece’s yield curve continues to steepen from inversion as the ECB targets purchases of particular maturities in the secondary market. The yield on 2-Year is currently trading at 7.02 percent, a decline of 50 basis points while the 5-Year declined 11 basis points to 7.60 percent. The yield on the 10-Year is at 7.44 percent, a drop of 32 basis points.

Greece Yield Curve Change

Portugal is seeing its yield curve steepen as well, led by the front-end. The yield on 2-Year bonds is lower by 69 basis points to 2.26 percent. The 5-Year is at 3.39 percent, a drop of 47 basis points while the yield on the 10-Year is tighter by 13 basis points to 4.53 percent.

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