Cyprus bond yields retreat to 4.68%

The cost of long-term borrowing for Cyprus maintained its downward trajectory, with the most recent yield falling to its lowest level since 2010 at 4.688%, according to the Cyprus News Agency.

Early in April, the yield on Cypriot ten-year bonds retreated under the 5% benchmark for the first time since 2010, following a rising trend that culminated in all-time high 16.46% 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%, Spain’s 2.696%, Italy’s 2.816% and France clocked 1.754%. Greek ten-year bonds retreated to 5.643%, down from 6.361% May 2.

Source: Cyprus Mail