The Cypriot 10-year bond exceeded the 5% mark yesterday in the secondary markets, resuming an upward trajectory since the three-year low recorded on June 12.
The bond yield on Tuesday reached 5.044% compared to a 4.68% on June 12, which represented a three-year low. The spread compared with the German 10-year bond, considered as benchmark, stood at 3.80%
The yield of the 5-year bond was issued on June 18 with a 4.75% coupon and a 4.85% yield reached 4.875%.
Cyprus` return to the markets after 2010 came 15 months after the country entered a financial adjustment programme, agreed with the European Commission, the European Central Bank and the IMF on March 2013. According to Fitch rating agency, Cyprus` return to the markets was the quickest compared to other bailed out countries. Ireland and Portugal took 20 months to return to the markets following their entry to a programme, whereas Greece took approximately four years.
