It is moving upwards today bond market with the result that the returns as investors discount that with tomorrow’s rate hike ECB – likely by 0.25%, Bank chief Christine Lagarde will signal the end of the bullish cycle.

Specifically, most analysts estimate that tomorrow the ECB will proceed with the seventh consecutive increase in the interest rate, which will be of the order of 0.25%.

However, they believe that both in the reasoning behind the decision and during the press conference that Christine Lagarde will give afterwards, she will send the message not for the relaxation of the monetary policy, but for a less strict policy. Which translates into fewer and smaller interest rate increases until the target for reducing inflation is reached. It is recalled that in April the inflation in the eurozone showed a small increase to 7% from 6.9% which was the previous month. It is estimated that the Federal Central Bank of the USA, the Fed, will move along the same wavelength this evening.

In the domestic market and specifically in the Electronic Transaction System (EDAT) of the Bank of Greece, transactions of 75 million euros were recorded today, of which 56 million euros related to purchase orders. The yield on the Greek 10-year bond fell to 4.08% from 4.25% at the end of last week, versus 2.24% for the corresponding German bond, bringing the spread to 1.84%.

In the foreign exchange market, the euro continues to rise, as the European currency is trading at $1.1049 from the level of $1.1038 that opened the market in the early afternoon.