Wall Street Journal
September 2, 2011
Greek bonds fell sharply with two-year and five-year yields hitting euro-era highs as investors trained their guns back on the cash-strapped country amid signs of discord over a bailout package.
Bonds issued by other highly indebted euro-zone countries also fell as traders fretted over the Italian government's ability to push through fiscal tightening measures.
The two-year Greek bond yield rose by 2.64 percentage points to 45.92%, widening the yield spread over similarly dated German schatz by 2.47 percentage points to 45.39%. The five-year yield rose by 0.83 percentage point to 28.56%, while the 10-year yield climbed by 0.16 percentage point to 17.54%.
A Greek official had said earlier Friday that a visiting troika of international inspectors has been suspended amid a dispute over the country's ability to meet its deficit targets,
The delegation of European Union, International Monetary Fund and European Central Bank officials is expected to return in about 10 days after the Greek government has prepared the draft outlines of its 2012 budget, the official added.
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