Greece’s government bond yields tumbled to their lowest level in three years yesterday after an unexpected upgrade stoked optimism that the first and biggest casualty of the eurozone crisis was gingerly on the mend, writes Robin Wigglesworth.
Fitch Ratings lifted its assessment of Greece’s creditworthiness by one notch late on Tuesday, highlighting the country’s “clear progress” towards fixing its budget and trade deficits.
The move fuelled a rally in Greek markets, sending the benchmark 10-year bond yield down to just above 8 per cent and the Athens stock market to its highest since August 2011.
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