Athens prepares more market forays as climate improves further

The current environment is the most favorable in several years for the Greek state for funding from the markets, analysts say, thanks to the strong rally of state bonds, the high investor demand, the return of major and quality portfolios to Greek issues and the upgraded mood about Greece. Therefore Athens has already started contacts for new bond issues.

DZ Bank analyst Daniel Lenz notes to Kathimerini that the Greek bond rally may be fueled by several drivers: "They are the hunt for yield, with investors desperately looking for investments with a positive yield. Due to the coronavirus government bond yields have dropped which limits the number of issuers which still offer a positive yield; the positive developments in Greece, as the new government is more committed to economic reforms and has stressed that it will stick to fiscal austerity. Greece's ratings have already...