The yield on the 10-year bond increased by approximately 1% after the cessation of PEPP

The nominal value of Greek bonds bought by the European Central Bank a few days before the expiration of the PEPR pandemic program reached 38.5 billion euros.

According to ECB data, by March 22 (s.s. the program ended at the end of March) the value of Greek bonds stood at 38.5 billion euros. In the two months of February-March alone, the package of bonds purchased by the Bank of Greece from the secondary market on behalf of the ECB, amounted to 1.628 billion euros.

The ECB has stated that it will continue to reinvest the bonds it has in its portfolio and they are maturing, while, especially for Greek bonds that do not participate in other purchase programs, there will be more flexibility. However, in April, the ECB’s net purchases were negative by € 4 million (ie € 4 million more bonds than any other market), which is partly reflected in the sharp decline in prices last month and the consequent increase in their returns.

It is indicative that at the end of March, the yield on the Greek 10-year bond was around 2.8% while in the previous days it reached 3.7%.

In the domestic bond market and more specifically in HDAT, transactions of 50 million euros were recorded, of which 28 million euros related to purchase orders. The yield on the 10-year bond stood at 3.60% from 3.67% yesterday, compared to 1.00% of the corresponding German bond, resulting in a margin of 2.60% from 2.57% yesterday.

In the foreign exchange market, the euro is still falling against the dollar today, with the result that early in the afternoon, the exchange rate of the European currency was around 1.0530 dollars from the level of 1.054 dollars where it was when the market opened.

The indicative price for the euro / dollar exchange rate announced by the ECB was set at $ 1.0554.

SOURCE: ΑΠΕ-ΜΠΕ