The margin of Greek bonds against German ones is widening as December 16th approaches, when the ECB is expected to “open its papers” regarding the bond purchase program of the PEPR pandemic.
On the contrary, the yields of most eurozone government bonds started to decline today as the new phase in which the pandemic seems to have entered with the rapid spread of the “O” variant has rekindled the climate of insecurity, with the result that investors are once again turning to bond security.
Analysts anticipate that the ECB will cut its monthly bond purchases from the secondary market after March, when the pandemic program ends, due to a spike in inflation.
Today the yield of the 10-year bond reached 1.39%, to later stabilize at the level of 1.35%.
In the Electronic Transaction System of the Bank of Greece (HDAT) today transactions of 24 million euros were recorded, of which 10 million euros related to purchase orders. The yield on the 10-year benchmark bond increased to 1.35% from 1.28% closed at the end of last week against -0.38% of the corresponding German bond, resulting in a margin of 1.73% from 1.60%.
The euro is declining in the foreign exchange market today as it traded early in the afternoon at $ 1.1276 from the $ 1.1315 that the market opened.
The indicative price for the euro / dollar exchange rate announced by the European Central Bank was $ 1.1278.
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