JP Morgan recommends investing in Greek bonds, as the company remained positive about Greek bond yields, assessing that the country’s credit rating upgrades by agencies within the year will take it out of the junk category, probably within the next year.
JP Morgan analysts recommend long positions in the Greek 7-year bonds against the Portuguese, while they expect an offering of Greek bonds in the upcoming days with a 10-year or 30-year issue. With the Public Debt Management Agency targeting €8-12 billion in bond issues this year, the US bank predicts that the ECB will buy about €10 billion more in bonds than will be issued.
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