For the first time ever, the Greek 10-Year Bond yield fell below 1 percent. It is a milestone for a country that has been bailed out three times in the last 10 years.
The Greek 10-year bond yield fell to as lows as 0.992 percent, Tradeweb pricing showed GR10YT=TWEB, dropping below 1 percent for the first time ever.
An improving economy and credit ratings upgrades have boosted Greek bonds in recent months. The country’s positive yields have also attracted investors reluctant to hold a vast swathe of euro zone debt mired in negative yield territory, Reuters notes..
Reaction on Twitter was “stun”
— Derek Gatopoulos (@dgatopoulos) February 12, 2020
Scenes you seldom see:
Euro’s Reality Check Drags Currency Near Weakest Since May 2017
*GREEK 10-YEAR BOND YIELD FALLS BELOW 1% FOR FIRST TIME
— Heather Harris (@hharrisEMEA) February 12, 2020
GREEK 10-YEAR BOND YIELD DROPS BELOW 1%! Difficult to grasp given country's debt/GDP ratio. But as a friend says, the thing to understand with Greece's debt (mostly bailout loans), is that it's not really debt, it's equity
— Nikos Chrysoloras (@nchrysoloras) February 12, 2020
Greece 🇬🇷 10 year bond below 1% yield today.
A strong sign of confidence for the government of @kmitsotakis and the fact that the Greek economy recovery is indeed taking place.
I think Greek GDP will be beating targets this year #Recovery
— Loic FERY (@LoicFery) February 12, 2020
Greek 10-year bond yield below 1% for first time! pic.twitter.com/yBkCzmMI4y
— Dhara Ranasinghe (@DharaRanasinghe) February 12, 2020
The sub 1% figure that the Greek government now must pay to issue a 10 year bond is unprecedented! Greece’s borrowing costs have tumbled to a record low thanks to rising hopes of a renewed bond-buying programme from the European Central Bank! pic.twitter.com/iBbQIuRVGW
— Thanasis Koukakis (@nasoskook) February 12, 2020
PS at least the Greek economy is doing great on papers. And bonds.