Friday November 28, 2014 Search
Weather | Athens
16o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek bond yields dip as investors anticipate ratings upgrade

Greek bond yields slipped on Friday, slightly outperforming other lower-rated euro zone bonds as investors anticipated a credit ratings upgrade from Moody's later in the day.

Moody's has an extremely speculative Caa3 rating on Greece, the worst in the euro zone. It is scheduled to review the rating on Friday. Any announcement will come after the market closes.

Some market participants say an upgrade looks possible. Greece's economic outlook has improved and its held two successful debt sales this year, after its 2012 default.

Moody's one-notch upgrade of Portugal's ratings despite the problems facing its biggest bank fueled expectations of similar action for Greece.

Greek 10-year bond yields were down 2 basis points at 6.04 percent, bucking the upward trend on other lower-rated debt. Their yields were 1 to 4 bps higher on the day.

"Moody's is still a lagging the other rating agencies, so a bit of a catchup upgrade for Greece by about up to two notches is very possible," said Rainer Guntermann, a strategist at Commerzbank. "It won't come as a big shock to the market, but as always with official confirmation some accounts may feel more comfortable in adding to their positions (on Greek bonds)."

Italian and Spanish 10-year yields were up 4 bps at 2.73 and 2.55 percent respectively. Investors were cautious before a U.S. jobs report that may shed light on when the Federal Reserve will end its ultra-easy, risk-friendly monetary policy.

US non-farm payrolls, due at 1230 GMT, were forecast to show 233,000 jobs were added last month and the unemployment rate held steady at 6.1 percent.

Some traders said the market was already positioned for a strong figure and would need to see a big number - 250,000 and above - for a durable upward move in U.S. Treasury yields.

The effect of potentially higher US yields on euro zone bonds should also be tempered by Thursday's report on inflation in the region, which fell to its lowest in almost five years in July.

"If expectations for the Fed's gradual normalization in policy do indeed pan out, then there is, we feel, a strong argument to suggest that not only will core euro yields remain well bid, but that the higher-yielding peripheral market will see even greater demand," Rabobank strategists said in a note.

"Yield hunters (will) look to a corner of the rates world that is, for the time being, going to remain very much supported by an ECB that is very much on a mission." [Reuters]

ekathimerini.com , Friday August 1, 2014 (13:11)  
Athens water supply 9-month profit falls 45 pct on lower charges
PPC profits power up in Jan-Sept
Papastratos banking on exports
Saudi group Olayan to enter Costa Navarino
Samaras meets Venizelos ahead of Turkey visit
Prime Minister Antonis Samaras will meet Foreign Minister Evangelos Venizelos at 12.30 p.m. on Friday. The two are expected to discuss Venizelos's visit to Turkey where he will hold talks wi...
Child molester suspect photo released by police
Police have released images of a man suspected of molesting a 12-year-old girl. Dimitris Margaritis, 77, was arrested in Omonia, in central Athens, late on Tuesday as he was leaving a hotel ...
Inside News
SOCCER
PAOK is one win from Europa Leagues last 32
A late brace by Stefanos Athanasiadis gifted PAOK a precious win at Dynamo Minsk on Thursday, meaning that the Thessaloniki team is one win away from graduating from the group stage of the E...
BASKETBALL
First defeat for Olympiakos in Euroleague
Olympiakos suffered its first Euroleague loss of the season going down 89-70 at Laboral Kutxa on Thursday, although the Greek team remains the favorite to clinch the top spot in its pool. Th...
Inside Sports
COMMENTARY
Change of US president wont mean change of foreign policy
Americans have again voted for change in Washington as opposition Republicans take control of both houses of the US Congress. As attention now turns to the 2016 presidential race, it's time ...
COMMENTARY
The presidential election paradox
A few days ago, speaking with a visiting colleague who neither works in Europe nor covers events here, I suddenly felt how much we Greeks take for granted some things that should have worrie...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Samaras meets Venizelos ahead of Turkey visit
2. Child molester suspect photo released by police
3. Armed man arrested on Thessaloniki campus
4. Athens water supply 9-month profit falls 45 pct on lower charges
5. Lebanese FM: Cyprus may be jihadi transit point
6. PAOK is one win from Europa Leagues last 32
more news
Today
This Week
1. Athens water supply 9-month profit falls 45 pct on lower charges
2. Lebanese FM: Cyprus may be jihadi transit point
3. Armed man arrested on Thessaloniki campus
4. Child molester suspect photo released by police
5. Change of US president won't mean change of foreign policy
6. Samaras meets Venizelos ahead of Turkey visit
Today
This Week
1. Give Greece a chance
2. Scientists expand excavation of ancient Amphipolis
3. Extremism from a bygone era
4. Greece paralyzed by major strike, flights cancelled
5. Piraeus nightclub shooting leaves 3 seriously injured
6. Coscos Greek unit adds multinational rail-freight client
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.