Greece Stock and Bond Index Declines

Stocks and bonds in Greece plunged significantly as German Finance Minister Wolfgang Schaeuble announced he doubted that a compromise was possible.

Meanwhile, the Russian ruble consolidated following the second day of the Ukraine truce while Brent crude reached the highest level after two months.

The ASE Index of Greece dropped more than four percent while STOXX European Index decreased 0.1 percent after it finished at a seven-year peak last week. The ruble gained a one-month high versus the US note. Brent increased to $62.57 (1.7 percent per barrel).

According to Schaeuble, dialogues that were meant to forge an agreement between Greece and international lenders did not make substantial progress to break a stalemate.

Three-year note profits in Greece went up 123 basis points (1.23 percentage points) after falling 17.08 percent. 10-year yields climbed up 24 basis points or 9.50 percent.

On the other hand, the 10-year bunds of Germany hardly changed with yield recorded at 0.35 percent. These are known as the benchmark sovereign securities in the European Union.

STOXX 600 plummeted after two weeks of gains and incurred a trading volume of 17 percent which is lower compared to the one-month average.

The standard equity gauge in Europe rose 10 percent as against the 1.9 percent advance of Standard & Poor’s 500 Index and the 2.6 percent gain of MSCI World Index.

The Russian ruble moved forward by 1.8 percent. Five-year bond yields slipped 41 basis points or 12.94 percent. MICEX Index went down 2.6 percent while the Ukrainian currency fell 1.1 percent while the 2017 Eurobond plunged 0.16 cent (53.97 cents) on the US dollar.

The sovereign credit rating of the Ukraine was reduced to the lowest. The nation already consented to a bailout worth $17.5 billion from the IMF.