Bonds: Greek debt still on the back foot
These were the movements in some of the most widely-followed 10-year bond yields:
US: 2.44% (-4bp)
UK: 1.42% (-3bp)
Germany: 0.44% (-1bp)
France: 1.04% (-2bp)
Spain: 1.60% (-3bp)
Italy: 2.26% (-7bp)
Greece: 7.82% (+21bp)
Portugal: 4.19% (-5bp)
Japan: 0.09% (+0bp)
Sovereign bond prices were mostly higher with debt markets recovering part of their poise as the so-called 'Trump trade' wobbled a bit following the widespread confusion at airports around the US following the past weekend's hastily implemented immigration curbs.
Remarks on Tuesday from the new US trade chief also led some analysts to weigh in with cautious remarks regarding US dollar assets.
Eurozone periphery government debt recooped part of the previous day's losses, with the exception of debt issued by Athens.
Nevertheless, official Eurozone debt had shed 2.1% in January, its worst start to a year since at least 1998, according to Bloomberg data.
On a related note, State Street Global Exchange's index of institutional investor confidence for Europe retreated by 7.0 points in January to 92.9.
"It is noteworthy that after a more constructive vote of confidence by European investors in December, sentiment has moderated somewhat as the New Year started. Concerns surrounding the impending French and Dutch elections as well as a hard Brexit may have fueled this cautious tone," added Rajeev Bhargava, managing director and head of Investor Behavior Research at State Street Associates.
At one point during the session, the yield on two-year Greek government debt was up by 79 basis points to 9.44% - their highest since mid-2016 - although by the close they had fallen back to 9.05%.
Bloomberg reported that auditors from Athens's rescue programme were in discussions as to what steps to take next given the current stand-off between the Mediterranean country and its creditors.