Kathimerini English - - Focus -

mar­kets as they face sev­eral tests of sen­ti­ment in com­ing months. Two bankers who han­dle bond sales for Greece pointed to that coun­try’s re­turn to bond mar­kets in April 2014 as an ex­am­ple of a deal that re­lied heav­ily on hedge fund de­mand to its detri­ment. “Hedge funds bought a large part of the debt but when it sold off, they were des­per­ate to get rid of it,” said one of the pri­mary deal­ers, who de­clined to be named as they are not au­tho­rized to speak pub­licly on the mat­ter. This year, all of the 50-year and 70-year bonds is­sued by eu­ro­zone gov­ern­ments have suf­fered sharp losses against the back­drop of a broad bond sell-off. closed by for­eign coun­ter­parts since the Balkan state be­came the only Euro­pean coun­try to be put on a Euro­pean Union list of coun­tries that pose a high risk to the fi­nan­cial sys­tem, bankers said yes­ter­day. “[This]... has put in jeop­ardy the op­er­a­tion of banks and clients, re­gard­less of whether they are firms or in­di­vid­u­als,” Bos­nia’s Bank As­so­ci­a­tion (UBBiH) warned in a state­ment.

Rus­sian bil­lion­aire Mikhail Frid­man could take con­trol of mo­bile phone operator Turk­cell after fel­low share­holder Cukurova failed to de­clare an in­tent to buy a dis­puted 13.2 per­cent stake by a court dead­line, a source close to the mat­ter said yes­ter­day.

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