At the open, core European bonds are surging and peripheral bonds are getting smoked

European bond markets have opened to mixed results following word Greece will hold a July 5 referendum over whether or not to accept an accord with its creditors.

A flight to safety at the open has pushed yields on core European debt lower:

• Germany's 10-year yield -20.6bps at 71.4 basis points
• France's 10-year yield -10 basis points at 1.20%

Investing.comGermany's 10-year yield.

Peripheral European debt is under significant pressure:

• Greece's 10-year yield +142 basis points at 11.90%
• Spain 10-year yield +40 basis points at 2.50%
• Italy 10-year yield +55 basis points at 2.69%
• Portugal 10-year yield +41 basis points at 3.10%

Investing.comItaly's 10-year yield.

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