Markets worried by delays in bailout review

Greek state bond yields jumped on Wednesday to levels unseen since last June, when markets took a hit from the British referendum to leave the European Union. It is no surprise international agencies are particularly cautious about Greece.

The liquidation of Greek debt paper, due to the uncertainty generated by delays in wrapping up the second bailout review, led the yield of the one-year bond to 12.07 percent on Wednesday, while the benchmark 10-year yield came to 7.65 percent. This is the same level foreign bond managers saw after Britain's June 23, 2016, vote for Brexit.

The spread between the 10-year bond yield and that of the 10-year German bund came to 727 basis points, having stood at 628 bp at the start of 2017.

In the same context, some of the world's biggest financial firms have issued reports warning about the risks Greece faces if it does not complete...