19.3 C
Athens
May 29, 2020
GREEK NEWS

Greek Borrowing Costs Drop Lower Than Italy’s for First Time Since 2008

greek-borrowing-costs-drop-lower-than-italys-for-first-time-since-2008

The yield spread between the Greek and Italian state bonds fell into negative territory on Thursday for the first time since 2008, meaning that the Greek state can borrow money at a cheaper rate than Italy in capital markets.

The 10-year Greek benchmark bond yield fell to 1.21 percent while the 10-year Italian bond was 1.23 percent, leading the yield spread to -2.4 basis points from 1.7 percent at the beginning of the year.

The five-year bond yield was 0.41 percent, up slightly from 0.398 percent on the previous day. The turnover in the market was a strong 50 million euros, of which 14 million were buy orders.

In interbank markets, interest rates were mixed. The 12-month rate was -0.274 percent, the six-month rate was -0.337 percent, the three-month rate was -0.406 percent and the one-month rate was -0.423 percent.

Source: AMNA

Related posts

Greek Bone Marrow Donor Saves Life of Turkish Boy

times1

Giannis Antetokounmpo on the Eternal Dilemma: Mykonos or Santorini?

times1

Greece, Israel Mark 30 Years of Relations; Pledge to Open Up Tourism

times1

Three New Athens Metro Line Stations to Open in July

times1

Greek Businessman Launches Unique Olive Leaf Tea on World Market

times1

Greek Beaches Second in the World, Racking Up 500 Blue Flag Awards

times1

Leave a Comment