T-Bill auc­tion to test in­vestors’ ap­petite

Kathimerini English - - Business & Finance -

Greece will auc­tion 1.25 bil­lion eu­ros of 26-week T-bills on Tues­day, con­tin­u­ing its plan of monthly short-term debt sales, the coun­try’s debt agency (PDMA) said yes­ter­day.

The set­tle­ment date will be June 17. Only pri­mary deal­ers will be al­lowed to par­tic­i­pate and no com­mis­sion will be paid, said PDMA.

Mean­while, Greece’s gov­ern­ment notes were lit­tle changed yes­ter­day, with the two-year yield two ba­sis points lower at 25.74 per­cent. The 10-year yield rose six ba­sis points to 16.71 per­cent.

The cost of in­sur­ing against de­fault on gov­ern­ment debt sold by Greece surged to a record, ac­cord­ing to traders of credit de­fault swaps. Con­tracts on Greece soared to 1,534, ac­cord­ing to CMA.

The bench­mark Ger­man bund yield dropped seven ba­sis points to 2.95 per­cent. Yields on two-year notes were also seven ba­sis points lower, at 1.54 per­cent, the least since March 17.

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