The Greek CDS rose again on Tuesday, after Monday’s sharp decline, while Greek bond yields moved higher as well, reflecting pressures in capital markets worldwide in the aftermath of the devastating earthquake in Japan.

Greece’s credit default swaps grew 21 basis points to 980 bps, after falling as much as 85 bps on Monday. Market analysts said investors generally seemed to avoid taking any risks. The yield spread between the 10-year Greek and German benchmark bonds widened again to around 940 basis points in early trading, with the 10-year German Bunds yielding as much as 13.7 bps lower -the biggest daily decline since last August.