Bonds to woo big investors

The door is now wide open for the entry of quality and long-term investors, who manage trillions of dollars, into the Greek bonds market: Bloomberg Index Services, a global provider of government bond indices, has become the first to include Greek bonds among the elite of the debt markets, announcing that 17 Greek bonds worth 73 billion euros are to be included in its index series as of January

Bonds hit 16-month high

Greek bonds outperformed their eurozone counterparts considerably on Monday, with the 5-year Greek note even matching Spanish paper, having received a boost from Greece's upgrade by Fitch Ratings on Friday night.

Greek bond reopening secures rate of 3.76%, against 4.34% in previous such auction

The Public Debt Management Agency on Wednesday reopened Greece's 10-year bond that matures on June 15, 2033, raising 200 million euros and securing a rate of 3.76%, against a rate of 4.34% in the previous such auction four weeks earlier.

With total bids reaching €933 million, the bid-to-coverage ratio was 4.67, up from 3.79 on October 18.The settlement date is November 22. 

The upgrade is not a one-act play

We were very late in succeeding, but, even now it is recognized that the sacrifices and reforms made in the last 10 years in Greece following the country's debt crisis have had a positive effect. That is why two international rating agencies have recently removed Greek bonds from the "junk" category and upgraded them to investment status.

Serbia sells 12-year gov't bonds for 5.09 bln dinars

BELGRADE - The Serbian Public Debt Administration on Wednesday announced it had sold 12-year dinar-denominated government bonds at an auction for 5.09 bln dinars.

In a statement, the Administration said an issue of 12-year Serbian government bonds, maturing on August 20, 2032 and first issued on February 18, 2020, had been reopened on Tuesday.

Investment grade bestowed

The decision late on Friday by German credit rating agency Scope Ratings to upgrade Greek debt to BBB-, that is, investment grade, comes on the heels of a similar decision by Japanese firm R&I and provides hopes that the "big four" ratings firms recognized by the European Central Bank - Fitch, Moody's, Standard & Poor's and DBRS - will move in the same direction, bestowing an investment

Bond yields reaching EU average

Greek bond yields have fallen fast and currently the 2- and 10-year-bonds are trading at around the European average, 3.31% and 3.8% respectively.

Since the European Central Bank (ECB) started raising its rates to fight inflation, Greek borrowing costs have dropped by almost 10%, even as other eurozone members have seen their own inching upward.