7 Jul 2015
Treasury yields drop as Eurozone moves closer to Grexit
FXStreet (Mumbai) - The safe haven US Treasuries rose, pushing the yields lower as the Eurozone continues to inch closer to Grexit.
The yield on the benchmark 10-year Treasury in the US now trades 5 basis points lower at 2.228%. The yield was trading higher by almost two basis points during the European session. The 2-year yield is down 1.6 basis points at 0.573%.
The safe haven demand rose on reports that Greece turned up at the EU summit without a fresh proposal. The initial trigger came from the report ran by the Greek newspaper Kathimerini that a majority of the EU nations support of a Grexit.
The demand for the Treasuries have pushed the USD to a one month high against the basket of currencies.
The yield on the benchmark 10-year Treasury in the US now trades 5 basis points lower at 2.228%. The yield was trading higher by almost two basis points during the European session. The 2-year yield is down 1.6 basis points at 0.573%.
The safe haven demand rose on reports that Greece turned up at the EU summit without a fresh proposal. The initial trigger came from the report ran by the Greek newspaper Kathimerini that a majority of the EU nations support of a Grexit.
The demand for the Treasuries have pushed the USD to a one month high against the basket of currencies.