Greek bonds hit new record high

Greek 10-year bonds on Thursday rose to a record high of 12.553 percent, breaking the previous record set earlier this year during its bailout by the European Union and International Monetary Fund. In thin trading the yield, or return to investors, on Greek 10-year bonds rose from Wednesday's close of 12.489 percent to hit an intra-session high of 12.553 percent. It later dropped to 12.504 percent.
The records of 12.465 percent intra-session and 12.449 percent close were set in May, when the country secured a 110-billion-euro (150-billion-dollar) EU-IMF bailout. Investors have been spooked by Greece's high deficit and debt levels, and been demanding higher returns. With the funds from the EU and IMF, Athens hasn't needed to raise long-term financing from the bond markets, but it has said it plans to begin placing long-term bonds again in 2011.