Cyprus is scheduling to sell bonds to yield seeking investors, over the next couple of weeks.
Over this week, the island hired five banks to orchestrate the planned bond purchasing. If successful, the act would be the swiftest reentry into the markets of a EU member, after being forced to receive international monetary assistance.
According to Kathimerini, Loomis Sayles & Company Vice President Dan Fuss stated of the sale, "Now is the best time for Cyprus to establish itself in markets. Push, push, push for yield".
Prudential Fixed Income's Chief Investment Strategist Robert Tipp commented, "The yield ... is attractive. That was the case before the ECB last week and the tone has improved since then".
Discussing Cyprus' economic state, Exotix Chief Economist Stuart Culverhouse claimed, "For the country itself and for the people that have gone through the crisis it will show that if you keep persevering and do the right things you will be able to access the market again...It would also be seen by Brussels and other European capitals as an endorsement of the actions they have taken".
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