The volume of Greek government debt traded on the central bank's electronic system (HDAT) fell 87 percent month-on-month in May to 1.4 billion euros ($1.73 billion) from 10.6 billion in April, the central bank said.
The Bank of Greece said the fall was sharper year-on-year as 20.2 billion euros of government paper had changed hands in May 2009. Daily average turnover last month fell to 69.7 million last month from 529 million in April.
Greece's borrowing costs have surged as markets fret over its debt load and soaring deficit. The average monthly spread between Greek and German 10-year bond yields widened to 514 bps in May from 474 basis points in April.
It was around 633 bps on Friday.
The central bank said that out of the 1,040 orders executed on its trading platform (HDAT) last month, 59.3 percent were 'sell' and 40.7 percent 'buy' orders. Greek government bond yields fell markedly in May, except in 15- and 30-year tenors. The 3-year benchmark bond yield recorded the biggest drop, down 204 basis points to 7.8 percent, followed by 10-year paper where the yield declined by 118 bps to 7.74 percent.
On the contrary, at the longer end of the curve, 15- and 30-year yields rose 59 bps to 8.53 percent and 124 bps to 8.25 percent, respectively. As a result, the yield curve resumed its positive slope.
The volume of Greek government debt traded on the central bank's electronic system (HDAT) fell 87 percent month-on-month in May to 1.4 billion euros ($1.73 billion) from 10.6 billion in April, the central bank said.
The Bank of Greece said the fall was sharper year-on-year as 20.2 billion euros of government paper had changed hands in May 2009. Daily average turnover last month fell to 69.7 million last month from 529 million in April.
Greece's borrowing costs have surged as markets fret over its debt load and soaring deficit. The average monthly spread between Greek and German 10-year bond yields widened to 514 bps in May from 474 basis points in April.
It was around 633 bps on Friday.
The central bank said that out of the 1,040 orders executed on its trading platform (HDAT) last month, 59.3 percent were 'sell' and 40.7 percent 'buy' orders. Greek government bond yields fell markedly in May, except in 15- and 30-year tenors. The 3-year benchmark bond yield recorded the biggest drop, down 204 basis points to 7.8 percent, followed by 10-year paper where the yield declined by 118 bps to 7.74 percent.
On the contrary, at the longer end of the curve, 15- and 30-year yields rose 59 bps to 8.53 percent and 124 bps to 8.25 percent, respectively. As a result, the yield curve resumed its positive slope.
