Greece’s borrowing costs have tumbled to a record low — dipping below even the US — thanks to rising hopes of a renewed bond-buying program from the European Central Bank and the center-right New Democracy party’s sweeping victory in elections last weekend.
The yield for Greece’s 10-year bond dropped to as low as 2.03 percent, posting a record-breaking spiral of nearly 90 basis points only within the last month.
New historic low for the 10-year Greek bond on Wednesday, with its yield reaching 2,106% due to the combination of the expectation of a change in the July 7th election and the election Lagarde as the head of the European Central Bank which is considered a move that assured the markets to maintain the loose monetary policy of the central bank.