Peripheral Bond Yields Open Lower

Peripheral bond yields open lower Monday but the post-Greek election move, after a victory for the pro-bailout New Democracy party, is muted in early trading. "Even a 'successful' outcome leaves an inordinate amount of hard work to be done to make up for the lost time over the recent double-election hiatus. Regardless of the ultimate shape of the new government, the implementation risk for Greece remains extremely elevated," says Lloyds WBM. In the 10-year space, both Spain and Italy shed 8bps to yield 6.79% and 5.86%, respectively, while the Greek 10-year is 137bps lower at 25.38%.

Peripheral Bond Yields Open Lower

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