Investors snap-up Greek short-term debt

Greece sold more debt than expected today as investors snapped up the issuance of short-term government bonds.

The troubled state sold €1.56bn in six-month and one-year bonds, more than the €1.2bn it had planned to offer. Greece's debt sale has allayed fears it would need to immediately access the €30bn aid deal agreed between eurozone governments at the weekend. Investors are currently attracted to the high yields on offer in Greece, with bids on the one-year notes worth 6.5 times the paper on offer and more than seven times on the six-month paper. Greece paid 4.85% for the 52-week bond, up from 2.2% it paid in January. The six-month debt yielded 4.55%, compared with 1.38% earlier this yea...