Greek verdict leaves CEEMEA undaunted

Central and Eastern European bond bankers shrugged off the results of Sunday's Greek election, which last week was flagged as a major risk event. While EM opened slightly softer on Monday, down from the quantitative easing induced rally at the end of last week, bankers say any contagion effect from the election of an anti-austerity party in Greece is strictly limited. Indeed the market was constructive enough to support Vakfibank, which has opened guidance on Turkey’s inaugural Basel III bond this morning.