ECONOMY

Greek bond yields fall to lowest since June 2010 in wake of Fitch upgrade

Ten-year Greek government bond yields tumbled on Wednesday, one day after Fitch Ratings upgraded the country’s sovereign credit ratings.

Fitch raised Greece’s rating to B-minus from CCC citing a rebalancing of the economy and progress in eliminating its fiscal and current account deficits that have reduced its risk of a euro zone exit.

Ten-year Greek government bond yields fell 89 basis points to 8.47 percent – their lowest since June 2010. Greece restructured its debt in March 2012.

[Reuters]