Insider Economy Yields for Cyprus ten-year bonds decline to new historic lows

Yields for Cyprus ten-year bonds decline to new historic lows

Cyprus’ ten-year government bond yield dropped to new historic low levels pushing the island’s debt servicing cost lower.

Cyprus’ ten-year bond yield in the secondary markets is trading below 1% for the first time, while yields dropped by 25 basis points in the last two days.

Cyprus joined Ireland, Spain and Portugal, whose bond yields also dropped to historic low levels.

According to market data, trading for Cyprus ten-year bond with a coupon of 2.38% that matures in 2028 closed yesterday at 0.92 per cent while a month earlier the yield was trading at 1.36 per cent.

The spread against the German 10-year bund, which is considered as the benchmark, declined to 116 basis points, while at the end of 2018 the spread between Cyprus 10-year bond and the German bund hovered around 205 basis points.

Greece’s 10-year bond yield amounted to 2.88% yesterday, Italy’s was at 2.48%, Portugal at 0.66% Spain’s at 0.60%, Ireland’s at 0.29%, France’s at 0.11%, whereas Germany 10-year bund was traded at -0.24%.

Furthermore, Cyprus 15-year bond yield maturing in 2014 dropped to 1.53% from 2% a month before with yields marking a 24 basis points in June.

Cyprus’ 30-year bond yield is trading at 2.18% compared to 2.75% which was the coupon at the day of its issuance.

(Cyprus News Agency)

Top Stories

Bottled water withdrawn from Cyprus market

The Health Ministry is informing consumers that within the framework of the officials tests conducted in the market, the Ministry’s health services have tested...

President: Attack against Macron insults European values

In a written statement, President Anastasiades said that this attack, against the French President from the leader of a country which is candidate for...

Finance Minister: No lockdown forseen in 2021 state budget

Minister of Finance Constantinos Petrides called on MPs to approve the 2021 state budget given the critical moments facing Cyprus due to the coronavirus...

Mitsotakis-Anastasiades have working lunch

Prime Minister Kyriakos Mitsotakis on Monday had a working lunch with Cyprus President Nicos Anastasiades. According to government sources, during the lunch they discussed Turkey's...

Dendias-Lavrov: Greece has right to extend its territorial waters to 12 n.m.

Greek Foreign Minister Nikos Dendias and visiting Russian Foreign Minister Sergey Lavrov on Monday agreed it was Greece's ιnalienable right to extend its territorial...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...