Greek bond helps lower eurozone yields

Greek bond helps lower eurozone yields

Eurozone government bond yields edged down but stayed near one-week highs Wednesday ahead of a policy decision by the US Federal Reserve, with rate setters expected to hint at future monetary tightening. Greece’s successful return to bond markets on Tuesday helped lift sentiment toward eurozone bonds in general.

“The Greek five-year bond may have added to the improvement of sentiment around the eurozone,” said Rabobank strategist Matt Cairns. “And even though Greece is not out of the woods, the fact that here was 6.5 billion euros in orders for the deal is a fairly strong commitment from the market,” he said.

It successfully sold debt to private investors for the first time in three years, making a significant first step toward financial independence when its third international bailout ends next year. [Reuters]

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