Bloomberg: Greek Bonds are not to return to markets

8 September 2016
20 Views

As the latest season of the Greek drama premiers this week, investors are steering clear of the country’s bonds and stocks.

Greek government bonds have delivered the worst returns of all European sovereigns tracked by Bloomberg’s World Bond Indexes in the past three months, even after Prime Minister Alexis Tsipras managed to secure an accord with creditors for the disbursement of emergency loans in June. Greek bonds, excluded from the European Central Bank President Mario Draghi’s quantitative easing program, have been been stuck at the bottom of the wave that’s lifted debt markets across the euro area. The Athens Stock Exchange trails only Nigeria and Venezuela in the worst-performing primary equity indices tracked by Bloomberg in the period.

“Greek bonds have been in no-man’s land since June,” said Patrick Esteruelas, head of research at Emso Asset Management, which oversees $3.2 billion.
“As long as people feel that the government is going to move extremely slowly at best, or backslide at worst, they will have doubts about the solidity of its bailout backstop”, he added.

You may be interested

Schauble: No debt relief for Greece before end of program
POLITICS
shares40 views
POLITICS
shares40 views

Schauble: No debt relief for Greece before end of program

makis - May 22, 2017

The Greek matter was on the agenda of talks between German Finance Minister Wolfgang Scuable and his newly-appointed French counterpart…

ExxonMobil & Total discuss offshore drilling opportunities in Greece
FINANCE
shares53 views
FINANCE
shares53 views

ExxonMobil & Total discuss offshore drilling opportunities in Greece

makis - May 22, 2017

Greece’s energy minister held talks on Friday with representatives of U.S. oil major ExxonMobil and France’s Total about gas exploration…

Pavlopoulos-Erdogan meeting canceled!
POLITICS
shares44 views
POLITICS
shares44 views

Pavlopoulos-Erdogan meeting canceled!

makis - May 22, 2017

The meeting between the Greek President Prokopis Pavlopoulos and the Turkish President Recep Tayyip Erdogan has been canceled. The meeting…

Leave a Comment

Your email address will not be published.