Greek state bond prices rose and yields dropped to new record lows in the domestic electronic secondary bond market on Wednesday, ANA reports.
The 10-year Greek bond yield fell to 1.19 pct from 1.22 pct on Tuesday, falling below the 1.20 pct barrier for the first time ever.
The five-year bond yield also eased to 0.41 pct from 0.441 pct the previous day. The yield spread between the 10-year Greek and German benchmark bonds was 1.57 pct from 1.60 pct on Tuesday.
Turnover was 14 million euros, all buy orders.
Furthermore, Greece’s Public Debt Management Agency (ΟΔΔΗΧ) announced on Wednesday that it pumped €625 million into the economy by selling 26-week Treasury Bills at a 0.000 percent interest rate.
The total bids rose to €1,802 million and the amount finally accepted by the Greek state was €812.5 million.
The ”cover ratio” of this transaction was 2.88, meaning that markets were willing to offer almost three times the initial amount of money the Greek state wanted to draw.
The last time the Agency sold 26-week bills, on October 2, the interest rate was 0.097 percent.
Today’s zero yields sent another very positive message to the world regarding Greece’s economy, as global financial markets are now placing a great deal more trust in it compared to merely a few months ago.
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