Investment grade by April?

Analysts are split on when Greece may return to investment grade, in what is seen as a difficult year for the eurozone bond market due to the ECB's aggressive stance, while the national elections are firmly on investors' radars.

Societe Generale shares the optimism recently shown by Goldman Sachs and estimates that investment grade is likely this spring, even before the election, while JP Morgan remains cautious on seeing that milestone reached in late 2023 or early 2024. Both investment banks, however, expect the Public Debt Management Agency to move forward with its borrowing strategy this year, debuting a new 10-year bond in markets this month.

Societe Generale keeps the Greek bond market - instead of Italian bonds - among its top investment targets for 2023 and sees as very likely that S&P will surprise the markets by giving Greece investment grade on April 21....