The European bond markets, including the domestic one, reacted calmly today to the escalation of the crisis in the Middle East.

In fact, the prices of most bonds moved slightly upwards, as a result of which their yields fell accordingly, as in times of increased uncertainty and volatility, government bonds are a “safer haven” for investors.

Even though the new global scenario that is taking shape is likely to put a brake on the reduction of interest rates by the Central Banks.

Already, ECB board member, Central Bank of Slovakia governor Peter Kazmir, while in favor of cutting interest rates in June, pointed out that the next steps should be very careful after the latest events.

It is noted that the markets are discounting that the reduction of ECB interest rates in total within 2024 will reach 0.82%, anticipating that after the first reduction in June two more will follow at least within the year.

In this environment, the Greek State is scheduled to go to the markets on Wednesday, April 17, proceeding with a reissue of an existing bond. The exact data on the amount of the auction and the duration of the bond are expected to be announced tomorrow.

In the secondary bond market today, and more specifically in the Electronic Transaction System (HDAT) of the Bank, transactions of 94 million euros were recorded, of which 27 million euros related to purchase orders.

The yield on the Greek 10-year bond stood at 3.44% from 3.43% that closed at the end of the previous week against 2.42% of the corresponding German bond, resulting in a spread of 1.02%

In the foreign exchange market, the euro moves up against the dollar in the afternoon, with the result that the European currency trades at $1.0656 in the afternoon. from the $1.0635 level, which opened the market.