Periphery sovereigns cue up deals after Pepp boost

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By Lewis McLellan
08 Jun 2020

Greece and Ireland are set to test the primary bond market this week, returning to one buoyed by a fresh injection of confidence after the European Central Bank expanded its Pndemic Emergency Purchase Programme (Pepp) last week.

Both countries enjoyed a steep fall in their bond yields versus Bunds after the announcement on Thursday of the €600bn expansion to the Pepp. Ireland’s spread to Bunds dropped from 50bp to 43.5bp, while Greece’s fell from 185bp to 168bp.

The two countries, both in the eurozone periphery, ...

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