Greek bonds steady after S&P upgrade

Greek government bonds held steady on Monday after Standard and Poor’s raised the country’s rating by one notch to B minus, praising its compliance with the terms of its third bailout.

At the market open, Greek 10-year bond yields fell 10 basis points to as low as 9.44 percent, having traded above 10 percent at the end of last week.

Prices were extremely volatile, however, in one of the world’s most illiquid debt markets.

They finished the day slightly higher at 9.63 percent.

[Reuters]