Greece’s bond yields hit four-week lows after eurozone grants debt relief

Greece’s borrowing costs fell to four-week lows on Friday after the country was granted debt relief from the eurozone.

Eurozone finance ministers early on Friday extended maturities and deferred interest of a major part of their loans to Greece along with a big cash injection to ensure Athens can stand on its own feet after it exits its bailout in August.

The news lifted sentiment towards Greek debt, pushing yields down in early trade.

Greek 10-year bond yields fell 8 basis points to a four-week low at 4.23 percent, while five-year bond yields fell 10 bps to 3.40 percent — their lowest level in almost four weeks.

[Reuters]