Greek state bond yields dropped to 2006 levels in the domestic electronic secondary bond market on Friday, with the 10-year benchmark bond yielding 4.065 pct, very close to the 4.015 pct level recorded in March 2016, ANA notes.
This development pushed the yield spread against the 10-year German Bund below the 4.0 pct level to 3.765 pct. This spread was last below 4.0 pct in July 2006.
Financial Times pointed out that, contrary to the course of the Athens Stock Exchange, Greek state bond yields were down around 3.0 percentage points so far this year (the 10-year bond yielded around 7.0 pct in early 2017).
Greek Economy and Development Minister Dimitri Papadimitriou, in comments made to Bloomberg noted that recent credit rating upgrades by Fitch, S&P and Moody’s supported Greek bonds and contributed positively to a successful completion of a bond swap programme worth 25.5 billion euros.
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