BUSINESS

Upbeat data push Greek yields to monthly lows

Greek yields fell close to one-month lows on Monday, as positive economic data in the eurozone’s most battered economy fueled expectations it will return to growth this year.

Industrial output rose for the first time in six months in December – the latest in a string of indicators suggesting the country’s six-year economic slump may be over.

Greek yields dropped for a sixth consecutive session.

The upbeat numbers followed news last week that Athens and foreign leaders appeared to have resolved differences over a potential fiscal gap, easing the way for talks over more bailout funds.

“These issues that have been hanging over Greece for several months concerning the financing and fiscal gaps look a lot more encouraging,” said Ben May, European economist at Capital Economics.

Greek 10-year yields fell 14 basis points to 7.76 percent, outperforming eurozone peers albeit in thin trading.

Thirty-year yields were 13 bps lower at 7.46 percent.

[Reuters]

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