Treasury yields drop as Eurozone moves closer to Grexit

FXStreet (Mumbai) – The safe haven US Treasuries rose, pushing the yields lower as the Eurozone continues to inch closer to Grexit.

The yield on the benchmark 10-year Treasury in the US now trades 5 basis points lower at 2.228%. The yield was trading higher by almost two basis points during the European session. The 2-year yield is down 1.6 basis points at 0.573%.

The safe haven demand rose on reports that Greece turned up at the EU summit without a fresh proposal. The initial trigger came from the report ran by the Greek newspaper Kathimerini that a majority of the EU nations support of a Grexit.

The demand for the Treasuries have pushed the USD to a one month high against the basket of currencies.

The safe haven US Treasuries rose, pushing the yields lower as the Eurozone continues to inch closer to Grexit.

(Market News Provided by FXstreet)