Real Money Trumps Speculators in Greece's Euro Bond Sale Return

Traditional sovereign-bond buyers are returning to Greece.

Fund managers snapped up more than two-thirds of the notes sold in a 2.5 billion-euro ($2.9 billion) sovereign sale on Tuesday, compared with just 37 percent in the country’s return to the primary market about a year ago. The share allocated to hedge funds tumbled to 11 percent, according to a person with knowledge of the matter, who asked to not be identified as they aren’t authorized to speak publicly