Greek 3-month borrowing costs hit lowest in two years

Greek borrowing costs fell to their lowest since April 2011 in a sale of 1.3 billion euros ($1.69 billion) worth of government Treasury bills on Tuesday, the country’s debt agency PDMA said.

The T-bills were priced to yield 4.02 percent, down from 4.05 percent in a previous auction last month. The sale’s bid-cover ratio was 1.75, up from 1.65 in the previous auction. Monthly T-bill sales are Greece’s sole remaining source of market funding.