Free Trial

Greek Paper Widens Further As Syndication Mandated

EGBS

Greek spread widening stretches its legs as Bloomberg reports that Greece has mandated for a 15-Year syndication alongside a switch/tender offe., That allows the previously outlined ~4bp of widening in the 10-Year Greek/German spread to extend into double digits, with the spread pushing back above 140bp in the process. A reminder that the local political picture and fiscal trajectory had pushed the spread the tightest level seen since ’21, showing below 120bp in June, while Greek 10s also traded through BTPs by a record degree in recent months.


Fig. 1: 10-Year GGB/Bund & 10-Year GGB/BTP Spreads

Source: MNI - Market News/Bloomberg

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.