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Greece plans Treasury bill sale just as markets fret over debt default
By Associated Press, Tuesday, April 19, 3:17 AM
ATHENS, Greece — Greece is looking to raise €1.25 billion ($1.78 billion) via the sale of 13-week Treasury bills, just as the markets are pricing in a higher risk of a government debt default.
Tuesday’s sale is set to go ahead at a time when the interest rate gap, or spread, with Germany’s benchmark 10-year bonds has climbed to a record 11 percentage points.
Of interest will be what rate Greece pays to get investors to part with their cash.
The last time it auctioned the equivalent bills in February, the yield was 3.85 percent.
The government insists it will not restructure its debts and has promised to accelerate cost-cutting reforms.
Greece’s largest union on Monday called a general strike against the latest austerity measures for May 11.
By Associated Press, Tuesday, April 19, 3:17 AM
ATHENS, Greece — Greece is looking to raise €1.25 billion ($1.78 billion) via the sale of 13-week Treasury bills, just as the markets are pricing in a higher risk of a government debt default.
Tuesday’s sale is set to go ahead at a time when the interest rate gap, or spread, with Germany’s benchmark 10-year bonds has climbed to a record 11 percentage points.
Of interest will be what rate Greece pays to get investors to part with their cash.
The last time it auctioned the equivalent bills in February, the yield was 3.85 percent.
The government insists it will not restructure its debts and has promised to accelerate cost-cutting reforms.
Greece’s largest union on Monday called a general strike against the latest austerity measures for May 11.