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.
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