The yield spread between the 10-year Greek and German benchmark bonds widened to 13.48 pct in the domestic electronic secondary bond market on Wednesday, from 13.16 pct on Tuesday, reflecting market concern over developments in the Eurozone after Moody’s downgraded Portugal’s credit rating. The Greek bond yielded 16.39 pct and the German Bund 2.91 pct. Turnover was a thin 3.0 million euros, all sell orders. The six-month Treasury bill issue was the most heavily traded security with a turnover of 3.0 million euros.
In interbank markets, interest rates were largely unchanged. The 12-month rate was 2.18 pct, the six-month rate 1.81 pct, the three-month 1.56 pct and the one-month rate 1.33 pct.