Pending the assessment of the creditworthiness of the year that will take place on January 14 by Fitch, the Ministry of Finance is preparing for the first exit in the markets.
The international rating agency in a recent analysis argued that the latest decision of the ECB (to continue the Greek bond markets until 2024) significantly supports the sustainability of the country’s public debt and significantly reduces the investment risk for Greek bonds. The combination of the two, according to Fitch, will help keep borrowing costs low for the Greek government. The above is expected to be judged in practice during the first exit of the Greek State in the markets.
Recalled for the whole of 2022 according to the loan program announced by the Public Debt Management Organization at the end of December, the Greek State is expected to draw from purchases of about 12 billion euros.
In the Electronic Transaction System of the Bank of Greece (HDAT) today transactions of 24 million euros were recorded, of which 18 million euros related to purchase orders. The yield on the 10-year benchmark bond stood at 1.30% against -0.30% of the corresponding German bond, resulting in a margin of 1.43%.
In the foreign exchange market, the euro is moving up today as it traded early in the afternoon at $ 1.1313 from the $ 1.1296 that the market opened. The dollar is benefiting from the sharp rise in US government bond prices, a development linked to the expected rise in interest rates by the Federal Reserve (FED). The futures market has already invoiced three interest rate hikes during the year.
The indicative price for the euro / dollar exchange rate announced by the European Central Bank was $ 1.1279.
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