Core European bonds are surging and peripheral bonds are getting smoked

European bond markets have opened to mixed results following word Greece will hold a July 5 referendum over whether or not to accpet an accord with its creditors.

A flight to safety at the open has pushed yields on core European debt lower:

  • Germany’s 10-year yield -20.6bps at 71.4 basis points
  • France’s 10-year yield -10 basis points at 1.20%
Germany 10YInvesting.comGermany’s 10-year yield.

Peripheral European debt is under significant pressure:

  • Greece’s 10-year yield +142 basis points at 11.90%
  • Spain 10-year yield +40 basis points at 2.50%
  • Italy 10-year yield +55 basis points at 2.69%
  • Portugal 10-year yield +41 basis points at 3.10%

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