Greek bonds trading as though they already have investment grade, analysts tell Reuters

Greek bonds are already trading as though the country has regained investment grade, bank analysts that deal with Greek government debt told Reuters on Friday, with the news agency reporting that investors consider Greece's return to investment-grade credit ratings "a done deal". Cereport reports citing Athens-Macedonian
"Investors are hopeful that the New Democracy Party - the clear winner in Sunday's election though it fell short of an outright majority - will stay in power after a repeat vote in June and continue reforms, paving the way for Greece to reclaim the ratings," Reuters said.
According analysts, "after this week's sharp drop in borrowing costs, the bonds were already trading like investment-grade paper," while Reuters notes that Greek 10-year bond yields around 3.9 pct "are now trading about 50 bps below Italy's", which "has investment-grade credit ratings from three big ratings agencies".

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