gli automatismi...
German Bonds Advance as Greece Bailout Talks Falter; Italian Debt Declines
Feb 6, 2012 9:11 AM GMT+0100
http://www.bloomberg.com/news/2012-...ilout-talks-falter-italian-debt-declines.html
German bonds rose for the first time in four days as Greek Prime Minister
Lucas Papademos struggled to win an agreement on budget-cutting measures after a weekend of talks to avoid an economic collapse.
The gains pushed the
yield down from the most since Jan. 26 as European leaders insisted that
Greece accept terms demanded by international lenders before allowing it to access a second aid package. Italian 10-year bonds declined for a second day and French securities were little changed.
Germany’s 10-year yield decreased four basis points to 1.89 percent at 8:08 a.m. London time, after rising to 1.95 percent on Feb. 3. The 2 percent security due January 2022 climbed 0.365, or 3.65 euros per 1,000-euro ($1,308) face amount, to 100.96. French 10-year yields were at 2.90 percent.
“If we determine that it’s all going wrong in Greece, then there won’t be a new program -- and that means in March you’ll have a declaration of bankruptcy,” Luxembourg’s
Jean-Claude Juncker, who chairs euro-region finance meetings, told
Der Spiegel magazine in an interview published yesterday. Greek Finance Minister Evangelos Venizelos said two days ago the negotiations for more funding hung “on a razor’s edge.”
Papademos will meet with Greek political party leaders today to hammer out the details of debt-cutting measures after imposing an 11 a.m. deadline for proposals. Antonis Samaras, the head of the second-biggest party,
New Democracy, indicated he would oppose some of the measures put forward by creditors.
The yield on Italian 10-year bonds climbed 11 basis points to 5.82 percent. The rate on Greek debt due in October 2022 dropped 10 basis points to 34.09 percent.
German bonds have lost 0.5 percent this year, after a 9.7 percent gain in 2011, according to indexes compiled by the European Federation of Financial Analysts Societies and Bloomberg. Greek securities have handed investors a 0.9 percent loss, adding to last year’s slump of 62 percent, the indexes show. Portuguese bonds are down 1.7 percent this year.