A ‘window of opportunity’ for the first market foray in 2020
The continuation of yield chasing by investors has led to record demand for government bond issues in the eurozone. The Public Debt Management Agency (PDMA) is expected to make the most of this soon, with analysts stressing to Kathimerini that there is currently a window of opportunity for Greece, not only thanks to the favorable environment but also due to the significant advantages Greek securities offer.
"We expect Greece will be in a good position to issue the high end of the announced range, or 8 billion euros. This will enable Greece to increase early repayments (reducing the treasury bill stock and official sector debt), which in our view makes a lot of sense economically (helping reduce interest debt service) and at a time where investor demand for yield is high," says Jorge Garayo, Senior rates/inflation strategist at Societe Generale.
"The timing is...