The market anticipates that the US Federal Reserve will raise interest rates by 0.25% on Wednesday, while the European Central Bank (ECB) will raise interest rates a day later (on Thursday) by 0.5%.
Negatively affect the bond markets imminent rate hikes by Central Banks within the week. The market anticipates that the US Federal Reserve will raise interest rates by 0.25% on Wednesday, while the European Central Bank (ECB) will raise interest rates a day later (on Thursday) by 0.5%.
Under these conditions the credit rating upgrade of the country by one notch from the rating house Fitch to BB+ –just one rung below investment grade – it was unable to stop the general downward trend in prices.
The negative sentiment was compounded by a rise in inflation in Spain in January, which prompted many analysts to argue that the ECB’s “battle to bring down inflation in the eurozone is far from over”, necessitating at least two more rate hikes of interest rates, including the one expected on Thursday.
In HDAT transactions of 39 million euros were recorded today, of which 12 million euros related to purchase orders. The yield on the Greek 10-year bond stood at 4.29%, up from 4.21%, versus 2.28% for the corresponding German bond, bringing the spread to 2.01% from 2.03% yesterday.
In the foreign exchange market, the euro is moving higher against the dollar today, as the European currency was trading at $1.0886 in the early afternoon from the level of $1.0878 that opened the market.
The indicative euro/dollar exchange rate announced by the European Central Bank stood at $1.0903.
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