The lowest point of the last ten months (3.75%) fell today performance of 10-year bond“returning” to the levels traded last August.

The rally in the domestic bond market continued today despite the negative climate created by ECB officials’ statements about new interest rate hikes.

Eurozone government bond yields moved higher today as strong economic data and aggressive statements from central bank officials put pressure on their prices, discounting further interest rate hikes by the European Central Bank.

Today, the head of the Central Bank of Spain, Pablo Hernandez de Cos, said that although the European Central Bank is getting closer to the point where it can stop raising borrowing costs, it still has a way to go.

The markets are already discounting that the ECB will proceed with new interest rate increases in both June and July. It is recalled that since July last year the ECB has sharply increased borrowing costs by a total of 375 basis points (3.75%), as the de-escalation of inflation is slower than initially expected.

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 also observed today, as transactions of 107 million euros were recorded, of which 43 million euros related to purchase orders.

The yield of the Greek 10-year bond stood at 3.86%, compared to 2.34% of the corresponding German bond, resulting in a spread of 1.52%.

In the foreign exchange market, the euro moves upwards against the dollar, with the result that in the afternoon the European currency trades at 1.724 dollars. from the $1.0718 level, which opened the market.