Economics
Greek Bonds Rise for First Time in Three Days After ECB Waiver
- ECB makes Greek securities eligible for refinancing collateral
- Debt still not eligible for ECB’s bond-buying program
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Greece’s government bonds rose along with the region’s peripheral securities after the European Central Bank agreed to made the nation’s debt eligible for collateral, allowing the country’s lenders access to cheaper refinancing.
Greece’s 10-year bonds advanced for the first time in three days, while the yield on notes due in July 2017 slid to the lowest in two weeks. The waiver has been reinstated after its suspension in February 2015 when Prime Minister Alexis Tsipras’s government said it wouldn’t meet the terms of the nation’s then-bailout program.