Greek Bonds Breach 1% for First Time as Rally Defies Junk Status
- Yields drop to fresh record low on improving economy, ECB hope
- During financial crisis 10-year yields rocketed to nearly 45%
Tourists sit in front of the Parthenon temple on Acropolis Hill in Athens.
Photographer: Yorgos Karahalis/BloombergThis article is for subscribers only.
Greek bonds have breached a threshold that would once have been scoffed at during the financial crisis: benchmark yields below 1%.
It marks a rapid turnaround from less than a decade ago, when yields soared to nearly 45% amid fears the country would crash out of the euro area. The fact that the debt is still deemed junk seems not to have put off investors scrambling to find the last remaining pockets of yield in the government bond market.