Markets news on stocks, currencies and commodities; The yield or return (when bonds with a fixed coupon or interest rate are dumped on the market, the value of the bond falls and the yield rises as the fixed rate amount is linked to a lower bond value) on 10-year Greek bonds rose to 10.131% Wednesday, the highest level ever reached in the Eurozone and more than treble the German bund benchmark rate.
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- Economist welcomes rising bond spreads as excellent news; Irish 10-year bond yields were below German benchmark level in 2007
- Trichet says he does not expect Greece to default; Yield spread on Greek bonds over German bunds rises to 4.48%
- Markets News Afternoon: Shares fall slightly in Europe and US from Monday’s highs; NTMA to auction Irish government bonds next week
- Recovery of EU economy stalls; Papademos becomes Greek PM; Italy sells bonds at 14-year high yield
- Portugal sells €1bn worth of bonds at elevated interest rates; Spanish and Irish bond yields fall Wednesday