The yield spread between the 10-year Greek and German benchmark bonds fell significantly to 915 basis points in the Greek electronic secondary bond market on Monday, from 953 bps on Friday, with the Greek bond yielding 12.38 pct and the German Bund 3.23 pct. Turnover in the market rose to 94 million euros, of which 39 million were buy orders and the remaining 55 million euros were sell orders. The 10-year benchmark bond was the most heavily traded security with a turnover of 20 million euros.
In interbank markets, interest rates were largely unchanged. The 12-month rate was 1.94 pct, the six-month rate 1.49 pct, the three-month 1.17 pct and the one-month rate 0.89 pct.