Greek Prime Minister Kyriakos Mitsotakis has hailed the historicrecord-breaking yield for the 10-year bond, yield that fell below 1 percent on Wednesday.
In a tweet on the his prime minister’s account, Mitsotakis said that “Greece is now on a growth trajectory,” making the country a “great opportunity for global investors.”
For the first time ever, Greece's 10-year bond yield falls below 1%. A benchmark once thought of as impossible, has been reached. #Greece is now on a growth trajectory that holds great potential and opportunity for global investors.
— Prime Minister GR (@PrimeministerGR) February 12, 2020
The 10-year bond yield was 0.961 pct in midday trade in the market, down 7.0 pct from Tuesday’s closing level, while the five-year bond yield was 0.3 pct, down 13 pct from the previous day.
International press also noted the event, which it attributed to implemented reforms and the election to power of a business-friendly government.
Wall Street said that the Greek economy is “experiencing solid growth at a time when much of the eurozone is slowing,” while Bloomberg said the Greek bonds “breached a threshold” that would have been unbelievable during the country’s financial crisis.
The “spectacular bond rally reached another landmark,” the Financial Times said, adding that PM Mitsotakis’ government has “further bolstered confidence.” [amna]