Greek yields tumble.
Greece’s borrowing costs fell sharply yesterday as signs emerged that the country’s main creditors have agreed a common stance on bailout talks. Two-year Greek government bond yields fell more than 100 basis points to 8.81 percent, moving further away from seven-month highs above 10 percent hit on Thursday as worries about the future of Greece resurfaced. Eurozone lenders and the International Monetary Fund agreed between themselves to present a common stance to Greece later yesterday in talks in Brussels on reforms and the fiscal path Athens must take, eurozone officials said, bringing some relief to markets. “There seems to be a high degree of will to put this issue to bed prior to elections in the eurozone,” Rabobank fixed income strategist Lyn GrahamTaylor told Reuters yesterday.