Global worry over coronavirus complicate potential new market foray by Greece

Wednesday, 26 February 2020 18:38
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A sudden surge in the yields for Greek 10-year bonds, on the back of global concerns over the new coronavirus outbreak, appears to have dampened Athens' plans for a coming foray into the markets for the country's borrowing needs.

The yield on the 10-year bond returned to level above 1 percent, rising 14 basis points in just one trading session to 1.21 percent, and with the "spread" vis-a-vis the corresponding German 10-year bond rising above 170 points.

Just last week, the yield for Greek debt dipped to a historic low and under the 1-percent threshold, essentially "wetting" the Public Debt Management Organization's "appetite" for very cheap borrowing.

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