Pressure eased on Greek sovereign bonds overnight after European Union leaders vowed to support the country's battle against a massive deficit and debt.
The yield on 10-year Greek bonds fell to 5.912 percent at 5pm GMT compared to 6.004 percent at the same time overnight. Bond prices and yield move in opposite directions.
This compared to the dramatic rise of the yield, which represents the interest rate that Greece must pay on bonds it issues to borrow money in the markets, last month when it surpassed the seven-percent mark.
The spread -- or difference in interest rate -- between Greek bonds and the German Bund dropped to 2.73 percentage points compared to 3.24 points a day earlier.
The yield on the German Bund rose to 3.238 percent, up from 3.195 percent on overnight.
The yield on Greek bonds dropped after Europe pledged solidarity with debt-stricken Greece at a summit in Brussels on Thursday.
Start of sidebar. Skip to end of sidebar.
End of sidebar. Return to start of sidebar.
While the European Union signalled it would use "determined" measures to defend its core, it stopped short of offering an immediate injection of hard cash for Greece.
Greece has been under pressure to slash its runaway public deficit and restore a loss of credibility in the markets, which caused bond yields in January to hit their highest levels since Greece joined the eurozone in 2001.
Dollar 1.5 cents lower on debt fearsNashville airport board approves rental-car facility
