Her trust in Greek bonds shows in her new report or JP Morgan.
Indeed, JP Morgan places Greek bonds in its top choices, proposing a Long position at 10 years and citing the powerful macroeconomic and fiscal foundations of the Greek economy and the stable political environment.
According to the report, in recent weeks, the Greek market has been submitted, mainly at 10 years, with bonds negotiating “cheap” compared to Spain. Analysts characterize the Greek titles attractive and as part of more complex strategies while the valuation is considered advantageous against France, Italy and Germany.
JP Morgan figures show that Greek -German spread is moving lower than its historical relationship with both Italy and Spain, enhancing the assessment that Greek titles remain undervalued. The placement of the investment giant translates into an expectation of further convergence of yields at 10 years, if the fundamental ones are confirmed and the recent under -delivery is normalized.