Investors swiftly sought to secure recent profits, leading to liquidations in the secondary bond market.
The market sentiment remains optimistic following Fitch’s upgrade of the Greek economy’s outlook last Friday, while keeping its long-term credit rating at “BBB-.”
Fitch’s report emphasized the robust fundamentals of Greece’s public debt profile, with an average maturity of 19 years. Furthermore, the country benefits from low interest rates and substantial cash reserves, which greatly mitigate exposure to market risks and significant fluctuations within the bond market.
Scope’s Rating Announcement on May 30
Attention now turns to May 30, when Scope Rating is expected to release its assessment, concluding the ratings cycle for the first half of 2025.
In the secondary bond market, particularly in the Bank of Greece’s Electronic Trading System (HDAT), transactions totaling 124 million euros were tracked, comprised of 25 million euros in purchase orders and 99 million euros in sales.
The yield on Greece’s 10-year bond was recorded at 3.35%, compared to 2.59% for the equivalent German bond, resulting in a spread of 0.76.
