Greek bond market closing report

Greek bond spread continued shrinking for one more day in the domestic electronic secondary bond market, reflecting investors’ optimism over a favourable and final solution to a debt crisis in the Eurozone.

The Greek finance minister on Wednesday expressed his confidence that European leaders will hammer a comprehensive agreement to deal with the debt crisis during their Summit in March.

The yield spread between the 10-year Greek and German benchmark bonds fell to their lowest levels in six months (738 basis points), down from 776 bps on Tuesday. The Greek bond yielded 10.59 pct and the German Bund 3.21 pct. Turnover in the market was a low 75 million euros, of which 44 million euros were sell orders and the remaining 31 million euros were buy orders. The five-year benchmark bond was the most heavily traded security with a turnover of 17 million euros.

In interbank markets, interest rates remained largely unchanged. The 12-month rate was 1.66 pct, the six-month rate 1.33 pct, the three-month 1.08 pct and the one-month rate 0.91 pct.

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