June 23 (Bloomberg) -- German 10-year government bond yields were within five basis points of their lowest since January as European leaders start a two-day meeting to discuss Greece's debt crisis and seek ways to avoid a default.
The yield stayed below 3 percent for a seventh consecutive day before data economists said will show the region's services and manufacturing industries grew at a slower pace in June. Risk signals for financial stability in the euro area are "flashing red" as the debt crisis threatens banks, European Central Bank President Jean-Claude Trichet said. The MSCI Asia Pacific Index fell 0.7 percent, while futures on the Euro Stoxx 50 dropped 0.6 percent.
The 10-year bund yield was little changed at 2.95 percent as of 7:55 a.m. in London. It reached 2.91 percent on June 16, the lowest level since Jan. 11. The 3.25 percent security due July 2021 traded at 102.615. Yields on two-year notes were also little changed, at 1.49 percent. They dropped to 1.43 percent on June 16, the least since Feb. 22.
German government bonds have returned 0.4 percent this year, while Treasuries handed investors 3.3 percent, according to indexes compiled by Bloomberg and the European Federation of Financial Analysts Societies.
Source:www.sfgate.com
The yield stayed below 3 percent for a seventh consecutive day before data economists said will show the region's services and manufacturing industries grew at a slower pace in June. Risk signals for financial stability in the euro area are "flashing red" as the debt crisis threatens banks, European Central Bank President Jean-Claude Trichet said. The MSCI Asia Pacific Index fell 0.7 percent, while futures on the Euro Stoxx 50 dropped 0.6 percent.
The 10-year bund yield was little changed at 2.95 percent as of 7:55 a.m. in London. It reached 2.91 percent on June 16, the lowest level since Jan. 11. The 3.25 percent security due July 2021 traded at 102.615. Yields on two-year notes were also little changed, at 1.49 percent. They dropped to 1.43 percent on June 16, the least since Feb. 22.
German government bonds have returned 0.4 percent this year, while Treasuries handed investors 3.3 percent, according to indexes compiled by Bloomberg and the European Federation of Financial Analysts Societies.
Source:www.sfgate.com
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