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 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.

(Market News Provided by FXstreet)