24 June 2018

Greek bond yields hit 8 years low

02 November 17 - RE+D Magazine
Greek bond yields hit 8 years low



Consultant - GREECE

Solum Property Solutions

Consultant - GREECE


Public entity - GREECE

IBI Group

Consultant - GREECE


Antulio Richetta

Director IBI Group
Greek bond yields are returning to 2009 levels and moving toward an eight-year low of 4.4 pct (October 8, 2009). In midday trade in the domestic electronic secondary bond market on Thursday, the 10-year benchmark bond yield was 5.06 pct, at levels last seen in December 2009.


Bond yields had approached 2009 levels again in June 26, 2017 (5.42 pct), with the yield spread against 10-year German Bund shrinking to 4.68 pct.

This improvement in the secondary bond market facilitates plans by the finance ministry - as stated by Deputy Finance Minister Giorgos Chouliarakis on Wednesday in Parliament - to create a "capital reserve" of 12-15 billion euros by the end of the 3rd memorandum programme in August 2018.

The current programme envisages a sum of 9.0 billion euros for the creation of the capital reserve, which means that the remaining sum will be raised from capital markets. Greece raised 3.0 billion euros in a five-year bond issue in July.


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