As anticipations spread in the market regarding Germany might not provide aid for Greece this early, we saw that the Greek bonds fell heavily causing the yields to rally to the highest since nearly 1998. The yield rose more than 600 basis points after the Germany Finance Minister Wolfgang Schaeuble said Greece must have plans on how to tame deficit for the upcoming years and not just these years.

As of 11:30 am in London, 10-year Greek bone yield inclined 78 basis points to 9.58%, while the two-year yield rose 300 basis points to 13.96%.