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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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