Investors rushed to lock in recent gains, prompting liquidations in the secondary bond market.
Market sentiment remains positive after Fitch upgraded the outlook for the Greek economy last Friday, maintaining the long-term credit rating of the Greek economy at “BBB-“.
In its report, Fitch highlighted the strong fundamentals of Greece’s public debt profile, as the average maturity reaches 19 years. At the same time, the country’s low interest rates and substantial cash reserves significantly reduce its exposure to market risks, as well as to major fluctuations in the bond market.
Scope’s rating on May 30
The focus now shifts to May 30 when Scope rating is set to release its rating, marking the conclusion of the ratings cycle for the first half of 2025.
In the secondary bond market, and more specifically in the Electronic Trading System (HDAT) of the Bank of Greece, transactions of 124 million euros were recorded, of which 25 million euros were purchase orders and the remaining 99 million euros were sale orders.
The yield on the Greek 10-year bond stood at 3.35% compared to 2.59% for the corresponding German bond, which translates to a 0.76 spread.
