Greek Assets Surge as Vote Puts Nation on Path to Credit Upgrade
- Mitsotakis’s party expected to secure majority in next vote
- Greek bank stocks jump 16%; risk premium on bonds declines
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Greek stocks surged and government bonds rallied as strong election support for market-friendly Prime Minister Kyriakos Mitsotakis put the nation on track to reclaim an investment-grade rating, 13 years after losing it.
The benchmark Athens Stock Exchange General Index jumped to its highest level in almost a decade, with a gauge of bank shares rising 16%. The premium investors demand to hold Greek 10-year debt compared with super-safe bonds of Germany fell to the lowest in more than a year.