Greece’s 10-year state bonds broke into new historic record-low territory on Wednesday, dropping below the one-percent milestone for the first time in history.
The country’s 10-year bonds were trading at a yield of 0.962% on Wednesday afternoon, down from 1.08% yesterday.
Increased demand for Greek bonds is linked both to the favorable climate prevailing in almost all the Eurozone bond markets, as well as to investors’ pursuit of higher profits.
The Eurozone’s bonds are in very positive territory, since even Italy’s bonds, which had been a source of concern due to the country’s economic stagnation, is now below the coveted one-percent milestone.
It is worth mentioning that just a few years ago, Greece had a disproportionately high interest rate for its bonds, making it impossible for the country to access international financial markets.
— Stelios Petsas (@SteliosPetsas) February 12, 2020
Stelios Petsas, the spokesperson for the Greek government, tweeted on Wednesday that Kyriakos Mitsotakis’ administration has managed to decrease Greece’s borrowing costs by a multiple of four compared to the country’s costs just one year ago.