Greek/German 10-yr bond spread widest since May 10

The premium investors demand to buy Greek government bonds rather than German benchmarks rose on Wednesday to the highest level since May 10 when an EU/IMF rescue package for Greece was announced.
Worries about the peripheral sector grew after Ireland's one notch downgrade to AA-minus by Standard & Poor's late on Tuesday.
Traders said very thin conditions in the Greek debt market probably exaggerated the move.
The Greek/German 10-year government bond yield spread widened about 35 bps on day to 945 bps — highest since May 10 — as the 10-year Greek yield jumped 27 bps on the day to 11.6%.
"The periphery is getting hit, Ireland, Portugal, so Greece is getting tarred with the same brush," a bond trader said.
"But it's really hard to gauge, the Greek market just doesn't trade."