The cost of borrowing for Greece fell to a four-week low, following yesterday’s Eurogroup decisions on debt relief.
The yield on 10-year Greek bonds fell by 20 basis points to 4.11 percent, while the yield on five-year bonds dropped by 25 basis points, to 3.16 percent, which is also a nearly four-week low.
Eurozone finance ministers extended bond maturity dates and postponed interest payments for a large part of Greece’s loans.
That was accompanied by a large cash payment, to ensure that Athens can stand on its feet after the end of the bailout programme in August.
The news bolstered the climate on Greek debt, driving yields down at the start of trade.
Finance Minister Euclid Tsakalotos, in remarks following the Eurogroup decision, expressed the conviction that the debt relief measures will ensure Greece’s return to the markets.