Spreads are much narrower today as German officials acknowledge the importance of a speedy resolution to the Greek debt crisis. The short-end of the yield curve has been the most volatile as investors worry if Greece will be able to roll over maturing debts in the coming weeks. Those concerns have eased considerably in the last 24 hours, as the market anticipates a package that will cover all Greece’s borrowing needs for the next three years.

4-29 spread