Financial markets

Greece is seeking to raise 2.5 billion euros ($2.8 billion) on a new seven-year bond issued on Tuesday at a yield of 1.9 percent, Bloomberg has reported.

Quoting an anonymous source, Bloomberg said the offer drew orders of more than 13 billion euros.

Investor expectations for a change of government in Athens and the consolidation of a stable financial and tax environment has activated funds toward Greek stocks and bonds in the last few weeks. The question is whether this strong rally can continue and attract quality investors.

Italian and Greek government bond yields fell on Monday, as encouraging economic data and an agreement by the US and China to resume trade talks boosted demand for riskier assets.
After a slow start, buying gathered momentum and 10-year Italian government bond yields fell 8 basis points to 2 percent, their lowest since May 2018.

Greece's third-largest lender Eurobank agreed to sell mezzanine and junior notes of a 2.0 billion euro securitized pool of non-performing mortgage loans to a unit of US funds group Pimco as part of efforts to clean up its balance sheet.

The bond segment is entering a stage of unprecedented diversification for the local capital market as investors who have had access to corporate, municipal and government bonds so far can trade the first mortgage bonds, Bucharest Stock Exchange (BVB) CEO Adrian Tanase told a conference on Wednesday.

The Central Bank of Turkey (CBRT) on June 17 decided to provide primary dealer banks with a liquidity facility within the framework of open market operations.

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Moody's said in a report on Monday that the outlook for Greece's banking sector remains positive due to the expected improvements in banks' funding and asset risks.
Despite the still challenging economic conditions, recent improvements will likely lead to stronger deposit growth, a gradual decline in problem loans and marginal profitability.

Mandatory private pension funds in Romania had assets worth over 52.26 billion lei on 30 April 2019, up 21.42 percent from the same level of the previous year, according to the Financial Oversight Authority (ASF) data. Government securities made up the largest share of the assets, of 30.06 billion lei, respectively 57.52 percent. Shares came in second, at 9.96 billion lei (19.07 percent).

Greek 10-year government bond yields fell below 3 percent for the first time on Friday, pushing its cost of 10-year funding to 20 basis points over Italy - an all-time low.
Greek 10-year bond yields dropped seven basis points to an all-time low of 2.98 percent as investors bet on a brighter outlook for Greece ahead of a snap election.