In the markets the Greek State comes out today seeking to raise 250 million euros.

Specifically, the Public Debt Management Organization will proceed with the reissuance of a 10-year bond within the framework of the planned auction.

The auction will concern the reissuance of the 3.375% fixed rate bond, due June 15, 2034, in intangible form, (ISIN GR0124040743.)

The purpose of the reissuance is to satisfy investment demand and at the same time to facilitate the functioning of the secondary bond market.

The amount to be auctioned will be up to 250 million euros and the settlement date (settlement) will be Wednesday, May 29, 2024 (T+5).

In the meantime, stabilizing trends prevailed today in the secondary bond market, in view of the Greek State auction scheduled for tomorrow.

However, in the largest markets, the appetite for taking on investment risk remains strong, as yesterday’s comments by Fed officials did not significantly affect expectations for the course of interest rates.

It is recalled that analysts discount that the Fed will cut interest rates at the September meeting.

On the other side of the Atlantic, in Germany, the producer price index showed in April a monthly increase (0.2%) lower than the estimates (0.3%) and on an annual basis recorded a drop of 3.3% (March -2, 9%). The above figures confirm the trend of de-escalation of inflation.

In the secondary market of bonds today and more specifically in the Electronic Transaction System (EDAT) of the Bank of Greece transactions of 74 million euros were recorded, of which 35 million euros related to purchase orders.

The yield on the Greek 10-year bond stood at 3.50% from 3.49% that closed yesterday against 2.49% of the corresponding German bond, resulting in a spread of 1.01%.

In the foreign exchange market, the euro/dollar exchange rate moved in a limited range of variation, as in the afternoon the euro against the dollar, with the result that the European currency traded at 1.0854 dollars in the afternoon. from the $1.0842 level that opened the market.