Tsipras Forges Anti-Austerity Coalition in EU Challenge - Bloomberg

Tsipras Forges Anti-Austerity Coalition in EU Challenge - Bloomberg

Greek three-year bond yields rose 117 basis points to 11.25 percent, while 10-year yields rose 39 basis points to 8.8 percent. The impact was confined to Greece, as yields on equivalent government debt from Portugal, Spain,Italy and Ireland declined.

“If you are a broad European investor you should be relatively relaxed,” Michael Krautzberger, the London-based head of euro fixed income at the world’s biggest money manager BlackRock Inc. said in an interview on Bloomberg Television’s “The Pulse” with Francine Lacqua. “If you look at the long end in Italy, the long end in Spain, they are actually up in price, down in yield. If the market were super concerned about spillover, we wouldn’t have those reactions.”

Mohamed A. El-Erian's view