Greece ticks off 10 year test, awaits support for short end

05 Mar 2010

Greece allayed fears that it no longer had access to the capital markets when on Thursday investors submitted over Eu16bn of orders for the country’s long awaited Eu5bn 10 year syndicated government bond.

Market participants are now hoping that the borrower’s curve will steepen, significantly reducing its funding costs, perhaps as a result of explicit support from other European governments.

Additional austerity measures committed to by the Greek government on Wednesday — which were well received by Moody’s and Standard & Poor’s ...

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