Greek Bond Yields Hit by Emerging Marking Rout

Yields on Greek bonds hit highs for the year on Monday while the stock market fell over 1 percent, as the euro zone country was caught up in the emerging market (EM) selloff.

Emerging market currencies and stocks continued to decline on Monday, due to fears of a slowdown in China, and concerns the Federal Reserve will opt for further cuts to its monthly bond-buying program when it meets on Tuesday.

In Europe on Monday, Greece was worse hit than peers like Portugal. Yields on Greece’s 10-year bonds were at 8.751 percent by mid-afternoon London time; in comparison, Portugal saw yields for its 10-year debt fall by 1.27 percent to 5.033 percent.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza