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Morgan Stanley Says Hold Onto Your Greek Bonds as Election Looms

Greek government bonds with longer maturities are worth keeping through a period of volatility as snap elections approach next month, Morgan Stanley said.

A selloff in 10-year bonds pushed yields to the highest close in 15 months yesterday amid concern the vote will hand power to the opposition Syriza party, which is opposed to some of the demands of Greece’s international creditors. Valuations of the nation’s bonds now present an attractive risk-reward opportunity, London-based analysts Paolo Batori and Robert Tancsa wrote in a report dated yesterday.