Economics
In the News
Greece returns to the bond market
25th July 2017
An encouraging sign for the Greek economy as for the first time in several years, Greece has returned to the international bond market seeking to swap government debt due in 2019 for a bond that will mature in 2022.
The yield on five-year debt issued by the Greek government is now less than 4 per cent.
Greece mandates six big banks to lead manage 5-year bond issue. 5-year yield now 3.6%. In March 2012 it was a touch higher at 63%.
— Jamie McGeever (@ReutersJamie) July 24, 2017
How much appetite will the bond markets have for Greek debt? Much depends on whether there are sufficient signs of a more robust and broadly-based upturn after nearly a decade of economic depression, mass unemployment, collapsing real incomes and deflation.
Investors again prove that they have a short memory: #Greece to return to Bond market after 3y hiatus. https://t.co/2BKT8RjD5a pic.twitter.com/LPzAxGYAXA
— Holger Zschaepitz (@Schuldensuehner) July 24, 2017
Earlier this month, the IMF agreed to loan $1.8 billion to Greece in return for further economic reforms.
Greece names six banks for first bond issue since 2014 https://t.co/gfcNwTkb2r
— Financial Times (@FinancialTimes) July 24, 2017
A cautionary note from the Guardian business desk
Greece's €3bn bond sale doesn't mean its debt crisis is at an end | Nils Pratley https://t.co/FbmNmYEFOu
— Guardian Business (@BusinessDesk) July 25, 2017
More here from BBC news
Greece begins trading bonds for the first time since 2014. https://t.co/Rmq9MaNJ8H
— Oxford Economics (@OUPEconomics) July 26, 2017
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