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Oct. 17 (Bloomberg) -- German 10-year bund yields were within five basis points of a six-week high as investors mulled the Group of 20’s endorsement of a plan to resolve the euro area’s debt crisis and avoid a Greek default.
German two-year notes were little changed even as Asian and European stocks rallied. G-20 officials concluded weekend talks in Paris by setting an Oct. 23 summit of European leaders in Brussels as the deadline for completing a plan to avoid a Greek default, bolster banks and curb contagion to larger economies in the 17-nation region. Greek two-year notes fell.
“There’s some expectation that they will have a final plan, especially for” the European bailout fund at the summit, said Alessandro Giansanti, a senior interest-rates strategist at ING Groep NV in Amsterdam. “That should help risky assets compared to the level of bund yields.”
German 10-year yields were little changed at 2.20 percent at 11:03 a.m. London time, after climbing to 2.25 percent, the highest since Sept. 1. The 2.25 percent security due September 2021 traded at 100.40. Two-year notes yielded 0.66 percent.
The Greek two-year note yield climbed 89 basis points to 75.03 percent.
--Editors: Mark McCord, Matthew Brown
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