ECONOMY

Greek 2-year bond yield tumbles after reform bill passes

greek-2-year-bond-yield-tumbles-after-reform-bill-passes

Greek two-year government bond yields tumbled 150 basis points to their lowest level in almost two weeks on Wednesday, after Parliament on Tuesday approved a bill containing reforms demanded by the country’s international lenders.

“There has been some decision making by the Greek Parliament, which is having a positive impact on the market,” said DZ Bank strategist Daniel Lenz.

“There is also some speculation about Greece getting some debt relief from January, so that is helping too.”

Greece has previously said it wants a debt relief deal with its eurozone creditors in February.

The yield on Greek two-year bonds fell as low as 7.64 percent, its lowest level in almost two weeks, and down 150 basis points on the day.

[Reuters]