The Greek stock market hit a two and a half month high on Tuesday, with Greek banks up as much as 12 per cent, after the country’s international creditors provisionally approved a list of economic reforms proposed by the Greek authorities.
Greek 10-year yields fell to a one-month low, down 98 bps at 9.17 per cent, while three-year yields dropped 309 bps to 13.47 per cent.
The four-month extension of the Greek bailout deal spread enthusiasm amongst investors. However, there were concerns raised by the country’s lenders concerning the government’s determination to see through a set of proposed reforms successfully.
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