Greek bonds coming highly recommended

Major investment firms kicked off the new year with a barrage of positive recommendations for Greek bonds ahead of the country's first market foray for 2024, expected soon, as well as the start of bond reissues planned by the Public Debt Management Agency.

JP Morgan, Societe Generale and Citigroup reiterate their vote of confidence in Greek bonds, estimating that this month the Greek state will carry out its first syndicated issue after regaining investment grade, with a new 10-year bond. The current week was the first opportunity for Greece to claim its presence among the "wave" of issuers in the first days of the year, when investment demand is high. However, with Italy's double foray on Tuesday and the likes of Belgium and Germany also going ahead with releases on Tuesday and Wednesday, the PDMA has chosen to wait. Next week holds some chance for an issue, thought the...