ECB purchases push Greek 10-year bond yields to record low

LONDON, Greek 10-year government bond yields fell to record lows on Thursday as a sharp rally spurred on by the fast-paced purchase of the country’s debt by the European Central Bank kept pace with investors continuing to snap up higher-yielding assets in summer trading, Reuters reported.
The European Central Bank has bought 13.5% of Greece’s tiny bond debt pile of about 73 billion euros in just four months, data showed earlier this week.
It started purchasing Greek debt for the first time in late March, making an exception to include the junk-rated debt in its pandemic bond-buying program, helping the country outperform its peers since.
Ten-year yields fell to a record low at 0.91% on Thursday, according to Tradeweb – a fraction of a peak at over 4% they spiked to in March at the height of the coronavirus sell-off.

 

Source: Saudi Press Agency

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