Bond yields fell today. The intervention of the European Central Bank, which until yesterday had not managed to alleviate the pressures, seems to have borne fruit today. It is indicative that the head of the ECB Christine Lagrand intervened in yesterday’s meeting of the Eurogroup, assuring that the ECB will activate special tools in case the bond spreads move very upwards in a short time.
The Wood & Company Report published today, which assesses that Greece’s financial position is shielded by the troika program and the favorable effects of the reform efforts of recent years, is also positive for Greek bonds. He believes that the ECB would be better off imposing a range on the 10-year bond yield of 3-5% in the medium term (up to 36 months).
At HDAT, transactions of 82 million euros were recorded, of which 48 million euros related to purchase orders. The yield on the 10-year bond stood at 3.99%, from 4.26% yesterday, compared to 1.74% of the corresponding German bond, resulting in a margin of 2.25%.
In the foreign exchange market, the euro is falling against the dollar as the European currency traded early in the afternoon at $ 1.0458 from the level of 1.0501 at which the market opened.
The indicative price for the euro / dollar exchange rate. announced by the ECB stood at $ 1.0486.
Source: Capital
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