Deposit outflow at 550 mln in Oct, led by a decline in corporates
Re-opening of benchmark bond fetches 200 mln at steep yield of 4.44 pct
In another cautious move, PDMA fetches 975 mln for 5 yrs at variable rate
S&P leaves Greece a notch away from investment grade as outlook blurs
Fitch leaves rating unchanged at 'BB', sees small recession and primary deficit next year
Yields rise, but Greek debt still partly shielded from market headwinds
Greek bond yields edge up as PEPP winds down
The Greek authorities, as well as the markets, had hoped that Greece will continue to enjoy some sort of support from the ECB once the current asset purchase programme, PEPP, concludes in March next year but this looks unlikely.
This was always a largely aspirational position as the ECB could face legal challenges if the central bank breaks the minimum requirement rule of investment grade, which Greece does not have yet, and continued purchasing Greek bonds (GGBs) in the regula...
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