High volume of transactions and the spread falling to a one-year low observed today Thursday in the secondary bond market in the wake of the May 21 election

The prospective upgrade of the country’s creditworthiness after the result of the national elections, boosted today by Moodys, which in the Credit Outlook published today makes extensive reference to the electoral victory of the ND and recognizes that after 2017 the conditions for refinancing the Public Debt are quite favorable, predicting that it will decrease below 150% of GDP by 2025, from the levels of 171.3% which was at the end of 2022. Referring to the result of the elections, he argues that this has a positive effect on Greece’s credit rating, as it prescribes continuity in fiscal and economic policies.

In the secondary bond market today and more specifically in the Electronic Transaction System (EDAT) of the Bank of Greece, a high trading activity was observed as transactions of 153 million euros were recorded, of which 77 million euros related to purchase orders.

The yield on the Greek 10-year bond was formed to 3.86% from 3.88% which closed yesterday against 2.48% of the corresponding German title, bringing the spread to 1.38% from 1.37% which closed yesterday.

In the foreign exchange market, the dollar strengthened slightly against the euro today, even though the effort to avoid a default by the US Treasury is still continuing in the US.

So in the early afternoon the European currency was trading at $1.0723, from $1.0767.