New Greek bonds with 30-year maturities issued with yields of 3.65% were yielding 13.57% on Monday, with investors demanding a far bigger percentage return on their investments.
In London, two-year gilts were yielding 0.78%, up from 0.75%, and 10-years yielded 3.39%, up from 3.37% on Monday.
As recently as February, junk-rated bonds as measured by the Bear Stearns High Yield Index yielded just 3.2% more than ten-year Treasurys, which were yielding 5.5%.
At the depths of economic despair in late 2008 junk bonds were yielding 20 percentage points more than Treasuries, a yield spread that would have made sense only if the rate of corporate defaults was destined to rise to double its rate during the Great Depression.
In the week ended Jan . 2 International Paper bonds due in 2023 were yielding 11.58 percent.
Debt restructuring: At the time of writing, Irish 10-year bonds were yielding about 9 percent, while Greek 10-years were yielding 12½ percent.
At one stage yesterday Spain's five-year bonds were yielding 7.45%, more than the 10-year bond.
At the same time, improvements in digital cameras were yielding better-quality images, and prices were dropping.
But comparable German notes this week were yielding one one-hundredth of a percent.
The government's 10-year bonds were yielding 6.988 percent late Tuesday morning.
Some lawmakers even expressed frustration that the scene on Wednesday seemed all too familiar, with little evidence that the interrogations were yielding results.
