Greece retains negative yield in first debt auction of year

Greece has raised 487.5 million euros ($544.4 million) in a treasury bill sale that saw the country maintain its negative interest rate in the first debt auction of the year as the debt-strapped country attempts to regain full market access.

The Public Debt Management Agency said the 13-week T-bills were auctioned Wednesday at a yield of -0.08 percent.

Greece's six-month-old conservative government is hoping to steadily rebuild market access after the country ended its third successive bailout a program in August 2018, emerging from severe financial crisis during which its membership in the euro currency area came under repeated threat.

The government is betting on favorable market conditions to try and convince European bailout creditors to ease draconian fiscal targets.

Greece is committed to achieving a primary budget surplus — the annual balance...

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