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Friday, December 2, 2022
HomeEconomyRise in the bond market ahead of ECB decisions

Rise in the bond market ahead of ECB decisions

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It is recalled that through this mechanism and other tools the banks in the eurozone have acquired liquidity of 2.1 trillion. euro. Under these circumstances, the Greek State will attempt to borrow 750 million euros from the markets tomorrow.

With the eyes fixed on the European Central Bank, which on Thursday is expected to announce another increase in interest rates, the bond market moved today.

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Analysts are almost unanimous on a rate hike of 0.75%. The ECB has already raised its key interest rate by 1.25%. It is also possible that the ECB will proceed with changes in the mechanism by which until now it provides cheap liquidity to banks (TLTRO).

It is recalled that through this mechanism and other tools the banks in the eurozone have acquired liquidity of 2.1 trillion. euro. Under these circumstances, the Greek State will attempt to borrow 750 million euros from the markets tomorrow.

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In the secondary bond market, specifically in HDAT, transactions of 119 million euros were recorded today, of which 89 million euros related to purchase orders.

The yield on the 10-year bond fell to 4.94% from 5.08% on Friday versus 2.43% on the German counterpart, bringing the spread to 2.60% from 2.65% at the end of last week. .

In the foreign exchange market, the euro is moving higher against the dollar, as the European currency was trading at $0.9877 in the early afternoon from the level of $0.9856 that opened the market.

The indicative euro / dollar exchange rate announced by the European Central Bank was 0.9851 dollars.

RES-EMP

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Michael
Michael
I have worked in the news industry for over 10 years and have been an author at News Bulletin 247 for the past 5 years. I mostly cover technology news and enjoy writing about the latest gadgets and devices. I am also a huge fan of music and enjoy attending live concerts whenever possible.

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