Greece to issue 5-year bond

Greece is proceeding on Wednesday with its second market foray for 2023, barring any unforeseen circumstances, with the issuance of a new five-year bond. Its aim is to capitalize on the positive climate that exists in the bond market but also to avoid any possible instability that may stem from the pre-election period.

It is therefore not a coincidence that the announcement of the foray was made a few hours after that of the national elections for May 21. The already official election date removes a significant amount of uncertainty for investors who now have a specific horizon for the pre-election period.

That also explains the fact that Greek bonds did not come under any pressure on Tuesday - unlike the Athens Stock Exchange, where the activity by a few players who chose to liquidate and take a wait-and-see attitude in the next, pre-election period, was capable of...