For the first time in history, Greece is borrowing at a negative rate

15:25 9/10/2019 - Πηγή: In.gr

For the first time, the interest rate on the 13-week government auction marked a new historic low and touched negative levels.

As Bloomberg comments, this development is a huge turnaround for Greece that had been banned from markets a few years ago.

In the 3-month government

bond auction, the Greek state raised the amount of € 488 million, with interest rising at -0.02% from 0.095% of the previous auction.

The version was oversubscribed by 2.71 times from 1.59 previously.

The development comes a day after the 10-year bond opened, which was originally issued at the beginning of the year. The process ended with the interest rate hovering at a historic low (1.5%) and ODDRX raising 1.5 billion euros.

A total of 7.6 billion bids were submitted.

It is noted that Greek bond yields are stabilizing today, with the 10-year high at 1.45% and the 5-year high at 0.71%.

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