Greek Bond Yields Drop Toward 2015 Low on Election Optimism
- Nation's credit rating is up for review by Standard & Poor's
- Greek government bonds have returned 16 percent this year
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Greece’s government bond yields have fallen back to levels last seen before the nation’s January elections that swept the anti-austerity Syriza party to power.
In the intervening time, yields had surged as the new government sought to renegotiate its debt deal and secure more bailout funds. Those talks pushed the nation to the brink of exiting the euro, and capital controls were imposed. After an accord to disburse more aid, signs of stress in the bond market eased. Benchmark 10-year securities gained for a third week as euro-area finance ministers are set to meet in Luxembourg, where the state of play will be discussed.