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GreekReporter.comGreeceBloomberg Reports Greek Govt. Bonds Top Perfomers Last Quarter!

Bloomberg Reports Greek Govt. Bonds Top Perfomers Last Quarter!

Greek government bonds were the top performers in Europe last quarter. Bloomberg reports that investors making money on Greek paper for the first time since the third quarter of 2009, garnered a total return of 3.9% in the three months ending on  Sept. 29th.  These are shown in indexes compiled by Bloomberg and the European Federation of Financial Analysts Societies.
“The selling has stopped, and with yields at these levels, that’s all you need to make a good return,” Padhraic Garvey, head of developed markets debt strategy at ING Groep NV in Amsterdam told Bloomberg.
“The outlook for Greece hasn’t materially changed, but Greek bonds offer great returns if investors are prepared to hold on for a reasonable period of time.”
“If Greece succeeds in reaching deficit targets in 2011, it could mean a smooth return to the primary markets for funding,” said Ioannis Sokos, an interest-rate strategist at BNP Paribas SA in London. “Clearly, tax revenue collection will be the key.”
HSBC Holdings Plc, Europe’s largest bank by market value, Goldman Sachs Group Inc., ING and Societe Generale SA are advising clients to purchase securities sold by Greece.

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