Higher turnover, and yields, in the bond market
Turnover in the secondary bond market (HDAT) rose to -62.51 billion in March from -45.29 billion in February, the Bank of Greece announced yesterday. Investors focused on bonds with maturity from 7-10 years, which accounted for -36.42 billion in trades, or 58 percent of the total. The 10-year benchmark bond was the most popular, with transactions totaling -23 billion. Yields of Greek bonds rose, in line with other eurozone bonds. The 30-year bond rose the most, 14 basis points (0.14 percent) to 4.60 percent at end-March. The three-year bond rose 12 basis points, to 4.08 percent and the 10-year bond went up 9 basis points, to 4.30 percent. The spread between Greece’s and Germany’s 10-year benchmark bonds held steady at 25 basis points, reflecting the estimated extra risk for investors in the Greek market.
