FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The Greece long-term bonds slumped on Monday as the IMF Managing Director Christine Lagarde on Sunday said that the organization is a good distance away from an agreement that would allow for additional loans to Europe’s most-indebted state.
The yield on Greece’s July 2017 securities increased 208 basis points to 10.99 pct as of 10:40 a.m. London time.
“It shouldn’t really have an impact on the broader market. Any noise out of Greece will be localized.” said Orlando Green, a rates strategist at Credit Agricole SA’s corporate and investment-banking unit in London.
The tension with the IMF comes as European officials monitoring the progress of negotiations with creditors saying the nation could again face the threat of being pushed into default and out of the euro if the current bailout review drags on into June and July.
“As talks on the country's fiscal progress resumed amid tension after a leaked transcript detailing IMF mooted tactics to get a deal”, said Greek Prime Minister Alexis Tsipras office.
"The negotiation must be concluded immediately, without unrealistic demands for additional measures beyond those set out in the July bailout agreement," Tsipras' office added.
Moreover, 10-year Greece/Germany is widening in the European session with the move worth over 20bp with the focus on a break of 876bp from mid March. The 10-year Greece outright resistance at 8.92 pct from the 24th March followed by 9.10 pct from the 17th March, last at 8.90 pct.
