The new data created in the economic field by the Omicron mutation, are very likely to postpone for February the final decisions of the ECB for the “Pandemias” bond purchase program.
Although the head of the Eurogroup, Irish Finance Minister R. Donohoe appeared quite optimistic today, estimating that “Omicron” is not going to affect the recovery of the European economy, (Prime Minister K. Mitsotakis moved in the same direction, speaking to Reuters conference, where he hinted that the Greek economy will show a higher growth rate in 2022 than the 4.5% forecast in the Budget) the emergence of the new coronavirus mutation and its rapid spread, has caused widespread concern about the consequences which will have, both in the field of public health and the economy. In this climate of heightened uncertainty, it is very likely that the Governing Council of the ECB will avoid committing itself on 16 December to the policy it will pursue after March, when the PERP (Pandemic) program ends.
For the time being in Frankfurt they do not seem to favor the extension of this program until after March. However, the critical questions concerning the next day of the program, including the terms and conditions for the participation of Greek bonds, as well as the amount of bonds that the ECB will buy from now on, are very likely to be answered by the ECB. on February.
In the domestic secondary market, yields are falling today. Thus, the yield on the 10-year bond ranged to 1.20% from 1.28%, that of the 5-year bond fell to 0.38% from 1.40%, and that of the 15-year bond fell to 1.19% from 1.30% .
In the Electronic Transaction System of the Bank of Greece (HDAT) transactions of 156 million euros were recorded, of which 82 million euros related to purchase orders. The yield on the 10-year benchmark bond stood at 1.26% from 1.28%, compared to -0.32% of the corresponding German bond, resulting in a margin of 1.58%.
In the foreign exchange market, the euro is moving lower today, as it was trading early in the afternoon at $ 1.1329 from $ 1.1337 where it was when the market opened. The indicative price for the euro / dollar exchange rate announced by the European Central Bank was set at $ 1.1314.
Source: AMPE
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Source From: Capital
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