Greek state bond prices drop to new historic lows after Moody’s report

Greek state bond prices rallied and yields fell to new historic lows in the domestic electronic secondary bond market on Thursday, after a Moody’s report which was seen by the market as a pre-announcement of an upgrade of the country’s credit rating.

The 10-year bond yielded 1.155 pct from 1.19 pct on Wednesday, with the yield spread between the 10-year Greek and German benchmark bonds rising slightly to 1.59 pct from 1.57 pct. Turnover was a thin 4.0 million euros, all buy orders.

In interbank markets, interest rates were mixed. The 12-month rate was -0.276 pct, the six-month rate was -0.339 pct, the three-month rate was -0.401 pct and the one-month rate was -0.44 pct