Cyprus Mail
Business Cyprus

Bond yields tumble further

By Staff Reporter

THE COST of long-term borrowing for Cyprus maintained its downward trajectory, with Thursday’s yield falling to its lowest level since 2010 at 4.688 per cent, down from Monday’s 4.827 per cent, the Cyprus News Agency reported on Friday.

Early in April, the yield on Cypriot ten-year bonds retreated under the 5 per cent benchmark for the first time since 2010, following a rising trend that culminated in all-time high 16.46 per cent in June 2012. The trend was only reversed after Cyprus was forced to seek financial assistance from the European Stability Mechanism.

But despite the steady decline, Cyprus still has some way to go. Irish bonds on Thursday offered a yield of 2.405 per cent, Spain’s 2.696 per cent, Italy’s 2.816 per cent and France clocked 1.754 per cent.

Greek ten-year bonds retreated to 5.643 per cent, down from 6.361 per cent May 2.

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