22 April 2010, 18:07  Greek government bond prices record 10 years high

Greek government bond prices and the euro fell after the data, with the Greek/German 10-year government bond yield spread rising to 571 basis points from around 516 bps at Wednesday's settlement, surpassing a previous peak of 532 bps as the 10-year Greek yield hit a new high of 8.5 percent. "What concerns me is the general uncertainty about the Greek official figures. This affects market perception about Greece ... that one can't rely on the Greek statistics and that the deficit is revised up and up and up," said Giada Giani, economist at Citigroup. The euro fell to $1.3336 from $1.3410 before the data. The Greek Finance Ministry said in a statement that the upward revision of the deficit was due to the downward revision of the estimate for GDP in 2009 as well as a reassessment of financial accounts of pension funds.

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