Greek bond market among the world’s top performers

Greek bond market among the world’s top performers

Greek securities have been among the world's top performers in 2019, according to a report by the Financial Times.

The London-based publication noted that this year has offered glorious opportunities for investors, from Greek bonds to the spiraling of the British pound.

It adds that, in contrast to 2012 when the market were particularly negative toward lending Greece, this year investors have shown their enthusiasm thanks to the gradual recovery of the Greek economy and the return to normality of the unstable political landscape in the country.

Greece has also benefited from the global quest for high yields that has led investors to alternative securities in the bond market that are typically considered as relatively insecure.

The FT noted that Athens now borrows at a rate of just 1.16 percent for a 10-year paper as its yields have dropped even below those of Italy.

The major funds, the analysis adds, that have invested in Greek paper have achieved positive returns, with holders of 10-year bonds securing gains of 23 percent in 2019. Such returns show that those who bought Greek debt at the peak of the Greek crisis in 2015 now have earnings over three times above the money invested, the FT points out.

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