Skip to content
Subscriber Only

Tsipras Proves Bullish Surprise as Markets Reveal No Panic

Greek Prime Minister Alexis Tsipras at the European Commission headquarters in Brussels on Feb. 4, 2015.

Greek Prime Minister Alexis Tsipras at the European Commission headquarters in Brussels on Feb. 4, 2015.

Photographer: Emmanuel Dunand/AFP via Getty Images
Updated on

Traders who got attached to bets that Greek financial markets will unravel are getting a lesson in politics.

Spurred by signs the new government is softening its stance on debt payments, Greece’s ASE Index is heading for its best week since 2008 after its biggest three-day jump since 1991. Even after rising 0.16 percentage point on Wednesday, the yield on 10-year bonds is down 1.49 percentage points since Friday and ended at 9.52 percent on Tuesday, almost 35 percentage points below highs reached before the nation held the biggest-ever reorganization of sovereign debt in 2012. An exchange-traded fund tracking Greek equities has received about $45 million in fresh cash this year.