Greek bonds yields drop on ECB news

Greek bonds rallied, pushing yields lower after ECB spokesperson said Greece’s EFSF bonds are now in ECB’s QE shopping list.

At the time of writing, Greece’s 10-yr bond yield was down 20 bps at 9.181%. 5-yr and 2-yr yields were down 80 bps and 97 bps respectively.

Greece’s European Financial Stability Facility (EFSF) bonds will now be bought by ECB under QE, although normal debt paper is still not included.

Earlier today yields were on the rise as angst rose among investors about the delay in Athens bailout package.