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Standard & Poor's Upgrades Greece While Bond Yield Drop

Greek bond yields lowered this morning, following Friday's credit ranking advance from Standard & Poor's to a B from a B-.

The international credit grading firm stated that the nation is on the right path, with regard to overcoming its recession. Greece is predicted to conduct discussions with its lenders on additional aid in the following months, while Prime Minister Antonis Samaras stated to media that he is certain the state will not require a third bailout.

10-year bond yields dropped 3 basis points that amounted to 5.70%, prior to gains during this morning's term. Commerzbank rates strategist Rainer Guntermann described of the ranking, "The upgrade was by-and-large expected, but it explains the slight outperformance this morning", according to Reuters.