Market expects further rise for Greek securities
Market psychology has changed completely with regard to Greece since the May 26 European polls and the announcement of early general elections, as investors look forward to the prospect of a faster political shift toward a more market-friendly administration. They also see a reduction of the risks that had stemmed from what was to be a protracted pre-election period with the possibility of even more handouts that could threaten the country's fiscal course.
Greek securities are showing clear signs of moving independently from the international climate, with stocks gaining ground and bond yields dropping to all-time lows.
As Danske Bank chief analyst Jens Peter Sorensen tells Kathimerini, investors discern opportunities in Greek bonds that appear very attractive. Greece's course is now similar to that of Portugal, which has seen its credit rating upgraded, an increase...