In the wake of the upgrade from Standard & Poors the bond market moved today.

It is recalled that the international rating agency upgraded the outlook of the Greek economy to positive, keeping its credit rating unchanged at BB+, one grade below investment grade.

The next milestone is June 9, after the elections, when the verdict of the Fitch rating agency is expected, which also maintains the credit rating of our country one notch below investment grade. His announcement follows on September 8 Criminal DBRS. On September 15, the verdict of Moody’s is expected, which, however, keeps Greece at a lower level compared to the rest of the houses and therefore, more than one upgrade is required to return to the investment category.

Of course, as the governor of the Bank of Greece pointed out in a recent interview Giannis Stournaras Greek bond yields have already discounted the upgrade to investment grade, As he noted Greek bonds are performing better than Italian bonds. So in terms of pricing, it’s discounted.

What has not been discounted, however, is the large inflow of funds that will come precisely from the fact that many investment funds have as a limitation in their statutes not to invest in countries that do not have an investment grade. This restriction will be lifted, so we will have a flow of funds from these investment funds as well.

In the domestic market and specifically in Electronic Transaction System (EDAT) of the Bank of Greece, transactions of 49 million euros were recorded today, of which 33 million euros related to purchase orders.

The yield on the Greek 10-year bond fell to 4.27% from 4.31% that closed on Friday, versus 2.49% for the corresponding German bond, bringing the spread to 1.78%. .

In the foreign exchange market, the rise of the euro continues, as a result of which it trades steadily above 1.1. Thus, in the early afternoon, the European currency traded at $1.1023 from the level of $1.1002 that opened the market.