Investors Extend Greek Bond Bets as Confidence Rises on Bailout
- Creditors approve $8.5 billion euros, spurring rally in debt
- Yields very attractive compared to euro-zone assets: Citigroup
Greece Strikes Deal With Creditors
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Investors are extending the maturity of Greek bond holdings as they become more sanguine about the nation’s prospects after its creditors agreed a bailout deal.
The latest agreement by euro-zone finance ministers ended months of speculation over whether Greece would meet large bond payments due in July and spurred a rally in the country’s debt on Friday. PGIM Fixed Income and Greylock Capital Mgmt LLC are looking at moving investment further down the Greek bond curve, while Citigroup Inc. sees yields as “very attractive” in comparison to other regional assets.