Greek bonds can maintain their momentum
Greek government bonds are continuing their impressive performance, and are at the top of many international firms' investment lists. They have extended their strong rally that last week brought yields to new historic lows as that of the benchmark 10-year paper dropped to just 1.05 percentage points at Friday's closing.
Greece has been lucky enough to enjoy an unusually positive international environment, where monetary easing is leading to low yields on eurozone bonds and a contraction of spreads, while concerns that emerge regarding the prospects of the economy are increasingly turning investors toward the safe haven of government bonds.
Of course Greece could not have capitalized on these positive conditions had it not recorded some significant progress on key fronts that investors monitor. The strengthening of growth prospects and investments, high levels of...