Financial economics

By John Geddie $ Marius Zaharia

Greek bond yields rose on Friday as investors booked profits on the rally that preceded Greece's return to debt markets, with even its sought-after new five-year bond succumbing to selling pressure.

By Sharon Smyth

Greece is preparing a property portfolio valued at as much as 500 million euros ($689 million) to offer to investors by the end of this year, according to the head of the Hellenic Republic Asset Development Fund.

Greece is planning to announce a sale of five-year notes via banks on Wednesday, according to two people familiar with the matter, as the country that sparked Europe’s sovereign debt crisis returns from a bond-market exile.

By Christos Ziotis & Nikos Chrysoloras

International investors have started placing money into Greek banks as they anticipate the improving economy will boost profits across the industry, Michalis Sallas, chairman of Piraeus Bank SA, said.

By Harry Papachristou

The head of the euro zone's bailout fund has warned Athens not to pay investors too much when it returns to bond markets later this month, in comments to a Greek newspaper that hit newsstands on Saturday.

The Greek government may soon have to increase the country’s retirement age and slash pensions further, according to an updated copy of its bailout terms seen by Sunday’s Kathimerini.

 Agency chose not to revise Greece’s credit rating, retaining the country’s ‘selective default’ status

By Sotiris Nikas

Moody’s rating agency may not have changed its rating for Greece on Friday, but the markets did not appear inclined to wait for its announcement to display their own confidence in the country’s economy.

 Moody’s is expected to upgrade Greece’s credit rating on Friday

By Sotiris Nikas

Athens is set to officially announce its return to the money markets with the issuance of a five-year bond for an estimated 2-3 billion euros. Sources also suggest that the announcement could come after a likely credit rating upgrade by Moody’s over the course of Friday.

Fitch Ratings announced late on Tuesday it has revised the outlooks on four Greek covered bond programs to Positive and another to Stable.

The ratings of the five covered bonds programs have also been affirmed.

At the same time, the agency is maintaining the rating of one Cypriot covered bond program on Rating Watch Negative.

[Reuters]

Cypriot lawmakers must make it easier for banks to seize property when borrowers default to tackle the issue of bad loans, the country’s most pressing issue, central bank governor Panicos Demetriades said.