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Greek yields rise as investors book profits on comeback rally
April 11, 2014 / 9:50 AM / 3 years ago

Greek yields rise as investors book profits on comeback rally

LONDON, April 11 (Reuters) - Greek 10-year government bond yields rose on Friday as investors booked profits on a strong rally in the run-up to the country’s first debt sale since it defaulted two years ago.

Athens sold 3 billion euros of five-year bonds on Thursday, in a deal that was massively oversubscribed.

“The euphoria is fading after yesterday’s deal,” said Owen Callan, a senior analyst at Danske Bank.

Greek 10-year bond yields rose 21 basis points to 6.18 percent, having fallen below 6 percent just before the sale. At their post-default peaks, the yields traded above 30 percent. (Reporting by Marius Zaharia and John Geddie, editing by Nigel Stephenson)

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