Recent very positive developments in the Greek state bond market, signalled by a successful completion of a bond swap programme, combined with a fall in new bond yields and a rise in turnover, are indicative of the speed with which international investors have changed their stance towards Greek assets, Piraeus Bank announced on Friday, according to ANA.
The bank’s analysts said that despite these positive developments it would take a further drop in yields to ensure that increased borrowing from capital markets would not lead to a new rise in the total borrowing costs of the Greek state.
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