“Fundamentals matter less in an environment like this,” said Orlando Green, a fixed-income strategist at Credit Agricole SA’s corporate and investment banking unit in London. “It’s very much driven by circumstance. Investors are looking for where they can pick up a little extra return through yield. You’ve seen that with Portugal having rallied despite everything that’s been going on.”
French 10-year yields slid seven basis points, or 0.07 percentage point, this week to 1.57 percent at the 5 p.m. close in London. They dropped to 1.562 percent today, the least since Bloomberg began collecting the data in 1990. The 1.75 percent security due November 2024 rose 0.63, or 6.30 euros per 1,000-euro ($1,351) face amount, to 101.66. The rate was little changed today.
The benchmark German 10-year yield declined five basis points in the week to 1.16 percent, ending the trading day yesterday at a record-low 1.15 percent. The rate on similar- maturity Portuguese debt fell 20 basis points, the biggest weekly drop since the five days through April 18.
Portuguese government securities returned 15 percent this year through yesterday, the best-performing euro-area sovereign debt market after Greece, according to Bloomberg World Bond Indexes. Their French peers gained 6.8 percent and Germany’s rose 5.5 percent.
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How do I understand through yield?
And the second bold sentence sounds a bit weird to me. How could the security rise 0.63 to 101.66? Does it mean the original price of the security with the yield of 1.75% was 101.03 euros and rose 0.63 euro per face value of 100 euros?
Does the returned here mean yielded a return of 15% or prices rebounded by 15%?