The reissue of Greek bond On Wednesday (17.9.2025) comes at a juncture where France saw Fitch throw it into A+ evaluation and the yields of French 10 years passed over the regional countries, along with Greece.
Despite increased turmoil in the European debt market, Greece appears relatively durable, with risk premiums remaining manageable and the country’s profile supporting the demand for government bonds.
First, the Greek State is based on the predictability offered by the editorial program of ODRIX, which has “locked” a re -release plan for 17/9, 15/10 and 19/11, with the aim of enhancing the liquidity of existing securities and a steady presence in the markets.
Second, the “ace in the sleeve” of Greece is the yields of its bonds themselves. On Friday (12.9.2025), the French 10 -year yields moved to about 3.44%, slightly over the Greek 10 -year -olds found at around 3.40% (let’s remember here that France is the second strongest eurozone economy!) And clearly above Spanish and Portuguese.
Thirdly, the approach the country takes from the rating agencies with the investment grade has been consolidated by the big houses. Greek debt has long average duration, high share of institutional creditors and low average cost of service, while cash is remaining strong.
These factors reduce the risk and make Greece less sensitive to horizontal upward yields. For investors this translates into a more stable spread against the Bund than countries that are currently burdened with political risk or budgetary trouble. Hence the durability of government bonds in front of the turmoil caused by Fitch in France.
There are, of course, the dangers. Intense turmoil in French bonds could be passed in the short term throughout the eurozone by increasing yields. Also, if we look back on the core of eurozone inflation or deterioration in the expectations of the ECB’s interest rate reductions, the yields will again get their horizontal ones again.