The yield on the 10-year bond was today at 4.16% from 4.21% that closed yesterday on HDAT
Bond prices are moving upwards today in the secondary market, with their eyes on tonight’s “verdict” of Fitch for the country’s creditworthiness.
The yield on the 10-year bond was today at 4.16% from 4.21% that closed yesterday on HDAT.
The international rating agency which has ranked its credit rating Greece at BB, two notches lower than the so-called investment grade, (BBB_ is expected to proceed with its revision today.
In the last Report last October, Fitch predicted a steady decline in the public debt/GDP ratio until 2024.
As Fitch estimated the debt ratio will fall to 175.4% by the end of 2022, below the level before the pandemic and from 193.3% at the end of 2021. The debt ratio will then fall to 174.4%, before reaching 170.4% at the end of 2024, as the Budget returns to a primary surplus.
However, the debt ratio in 2024 is still projected to be among the highest Fitch-rated sovereign bonds and more than 3 times the median ‘BB’.
However, it is recalled that in the last three years the country’s credit rating has been upgraded a total of twelve times.
In the foreign exchange market, the euro is moving higher and lower against the dollar today, as the European currency was traded in the early afternoon at $1.0850 from the level of $1.088 that opened the market.
The indicative euro/dollar exchange rate announced by the European Central Bank stood at $1.0865.
RES-EMP
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