European Central Bank
Eurozone money markets started to fully price in a December European Central Bank interest rate cut on Wednesday, as the spread of the new coronavirus outside China pushed traders to ramp up expectations for more stimulus.
Greek government bonds led a Southern European sell-off as the risk-off tone prevailed on Wednesday.
The European Central Bank (ECB) appointed Bank of Greece Governor Yannis Stournaras chairman of the European bank's Audit Committee.
Stournaras had been elected member of the ECB's Audit Committee in September 2018.
In his new capacity he replaces Ewald Nowotny, former governor of Oesterreichische Nationalbank.
Straight on the heels of a Greek 10-year bond issue with a record low one percent yield (compared to 45 percent one decade ago), Bloomberg is singing the praises of the prospects of the Greek economy and government and touts the once unthinkable possibility of Greek bonds returning to investment grade (even though they are still at the junk level).