The yield spread between the 10-year Greek and German benchmark bonds shrank spectacularly to 13.93 pct in the domestic electronic secondary bond market on Friday, from 14.67 pct on Thursday, as the market took a relief from favourable political developments in the Eurozone and domestic. The Greek bond yielded 16.87 pct and the German Bund 2.94 pct. Turnover in the market remained an extremely low 8.0 million euros, of which 5.0 million were buy orders and the remaining 3.0 million euros were sell orders. The five-year benchmark bond was the most heavily traded security with a turnover of 3.0 million euros.
In interbank markets, interest rates moved slightly higher. The 12-month rate was 2.14 pct, the six-month rate 1.74 pct, the three-month rate was 1.48 pct and the one-month rate 1.28 pct.