Greek Bond Sale Had Huge Demand

April 10, 2014 Share Print 0

Yes, you read that right. Greece has sold new bonds to international investors for the first time since its economy collapsed four years ago.
The Greek Finance Ministry said Thursday that it raised €3 billion ($4.2 billion) by selling 5-year bonds, its first debt issue since the eurozone country received €240 billion of bailout loans from the European Union and International Monetary Fund.

Demand was robust. Investors were ready to buy as much as €20 billion, analysts said.
It’s been a long and painful road to recovery for Greece. In a bid to stabilize its finances, the government has implemented deep spending cuts, sending unemployment rocketing to 27% — nearly six in every 10 workers under the age of 24 are without a job.

via CNN

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.