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%
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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