ECONOMY

Credit Suisse still primary dealer in Greek gov’t bonds

credit-suisse-still-primary-dealer-in-greek-gov-t-bonds

Credit Suisse remains a primary dealer in Greek government bonds, even though it said last year it was giving up dealerships in all European government debt markets.

A senior official at the Bank of Greece told Reuters in a telephone call on Tuesday that Credit Suisse was one of the 22 primary dealers it had appointed for 2016.

A Credit Suisse spokesman confirmed the bank remains a primary dealer in Greece, because responsibility for trading its bonds did not lie within the bank’s rates franchise, part of the Global Macro Products business, which was restructured in October 2015.

Greek bonds pay some of the highest interest rates in Europe, with yields on 10-year bonds of 9.3 percent compared with 0.50 percent for German equivalents.

[Reuters]