FXStreet (Mumbai) – German benchmark 10-year Bund yields rose 10 basis points after Greece sent a package of reform proposals to its euro zone creditors to get new funds and avoid bankruptcy.

The optimism was boosted further after the EU head Djisselbloem said the EU intends to make a judgement on Greece’s new proposal “probably today”, and a discussion today could mean no meeting on Sunday.

Germany yields rise, periphery yields drop

The yields have shot higher across the bund yield curve. Still, the 4-year yield trades in the negative territory, while the 2-year yield trades below -0.2% (ECB deposit rate), which is the threshold level for qualifying under the ECB’s QE program.

Meanwhile, the Italian yields are down 11 basis points and the Greek 10-year yield dropped more than 500 basis points.

German benchmark 10-year Bund yields rose 10 basis points after Greece sent a package of reform proposals to its euro zone creditors to get new funds and avoid bankruptcy.

(Market News Provided by FXstreet)

By FXOpen