BUSINESS

Record-low yield for 5-yr Greek bond

Greece’s 5-year Treasury bond dropped to a record low 0.234% opn Tuesday, confirming Greek bonds’ reputation as a “safe haven” investment, despite the fact they are not rated as investment-grade.

The 10-year bond yield was at 1.03%, close to the historic low of 0.92% achieved last February. Overall, the Greek state’s borrowing costs have dropped 75% since mid-March.

The European Central Bank has €9.95 billion in Greek bonds, or 13.5% of the total.

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