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Greek bond yields tumble on report of preliminary deal between Greece and lenders
March 29, 2017 / 1:15 PM / 6 months ago

Greek bond yields tumble on report of preliminary deal between Greece and lenders

LONDON, March 29 (Reuters) - Greek government bond yields tumbled to multi-week lows on Wednesday after Reuters reported that Greece had reached an agreement with its lenders on some of the main issues in the indebted country’s current bailout talks.

Greece has agreed with its lenders on key labour reforms, spending cuts and energy issues, moving closer to clinching a deal before a meeting of euro zone finance ministers on April 7, sources close to the talks said on Wednesday.

Short-dated Greek bond yields fell to a two-month low of 7.47 percent and were last down 50 basis points.

Greece’s 10-year government bond yield fell more than 30 basis points to a five-week low at 6.93 percent.

“There’s been reports that the government could be close to an agreement with lenders, though this is yet to be confirmed by the Greek government, this is why the yields are falling today,” said DZ Bank strategist Daniel Lenz.

“If this gets confirmation from an EU official there might be an even sharper fall,” he said. (Reporting by Dhara Ranasinghe; Editing by Abhinav Ramnarayan)

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