A decline in the prices of Greek bonds and a rise in their yields was observed today in the secondary market, despite the double upgrade by Moody’s last Friday.

The new interest rate hike by the European Central Bank a day earlier, combined with the Central Bank’s ominous forecasts for the recovery of the European economy, caused pressure in almost all European bond markets, thus overshadowing the positive development of Moody’s.

It is recalled that the international rating agency raised the credit rating of our country by two notches to Ba1, with a stable outlook, i.e. just one notch below investment grade.

However, it seems that this development has already been discounted by the market.

In the secondary bond market today, and more specifically in the Electronic Transaction System (HDAT) of the Bank, transactions of 309 million euros were recorded, of which 119 million euros related to purchase orders.

The yield on the Greek 10-year bond stood at 4.13% from 4.04% that closed on Friday, versus 2.70% for the corresponding German bond, bringing the spread to 1.43%.

In the foreign exchange market, the euro moves upwards against the dollar, with the result that in the afternoon the European currency trades at 1.0672 dollars. from the $1.0657 level, which opened the market.