6 Jul 2015
Treasury yields drop after Greek referendum
FXStreet (Mumbai) - The safe haven US treasuries strengthened, pushing the yields lower across the board after the Greek referendum on Sunday resulted in a stunning majority of a ‘No’ vote.
The yield on the benchmark 10-year Treasury note currently trades 9.4 basis points lower at 2.296%. The 30-year yield is down 7.6 basis points at 3.116%. At the short-end of the curve, the 2-year yield, is down 5.2 basis points at 0.581%.
The safe haven assets rose as the outcome of the Greek referendum increased the probability of Grexit. As per Deutsche bank, a new deal with a newly formed government or Grexit are the most likely scenarios, both likely to support the safe haven assets.
The latest update from Greek finance ministry – resignation of finance minister Varoufakis, failed to have any major impact on the treasuries.
The yield on the benchmark 10-year Treasury note currently trades 9.4 basis points lower at 2.296%. The 30-year yield is down 7.6 basis points at 3.116%. At the short-end of the curve, the 2-year yield, is down 5.2 basis points at 0.581%.
The safe haven assets rose as the outcome of the Greek referendum increased the probability of Grexit. As per Deutsche bank, a new deal with a newly formed government or Grexit are the most likely scenarios, both likely to support the safe haven assets.
The latest update from Greek finance ministry – resignation of finance minister Varoufakis, failed to have any major impact on the treasuries.