Firms agree: Buy Greek paper

In the next few weeks Greece is set to tap the bond markets for the first time in 2021, and some very positive messages are coming from international firms regarding Greek notes.

JP Morgan and Citigroup have expressed optimism about the course of the Greek market this year and are recommending investors acquire Greek securities, expecting the Public Debt Management Agency (PDMA) to issue long-term bonds - i.e. maturing in 20 or 30 years.

Market sources say Greece will wait for the eurozone bond issue congestion which is typical in the first few weeks of January to pass before attempting its first market foray, anticipated late in January or early in February. The decisive factor will be the intentions of investors, which remain positive on Greek debt despite the historic lows the country's bond yields have dropped to.

It remains unclear whether the first issue...