Greek bond yields slide to all time low of 2.98pc

Business | 31 May 2019 6:00 pm

Greek 10-year government bond yields fell below 3% for the first time on Friday, pushing its cost of 10-year funding to 20 basis points over Italy — an all time low, Reuters reports.

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.

That came as Italian bond yields rose sharply, with the Bank of Italy warning that public debt as a percentage of GDP could rise more than expected.

The Greek/Italian 10-year bond yield gap narrowed to around 20 bps as a result — its tightest on record.

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