JP Morgan recommends macro-outlook investment in Greek govt bond
Βasing its assessment, as it noted, on a belief that the European Central Bank will include the latter in net asset purchases after phasing out the ongoing pandemic emergency purchase program.
J.P. Morgan on Tuesday issued a cautious “green light” to investors for future purchases of Greek state bonds, basing its assessment, as it noted, on a belief that the European Central Bank will include the latter in net asset purchases after phasing out the ongoing pandemic emergency purchase program.
“We, therefore, remain broadly constructive on Greece given attractive valuations, our view of GGB [Greek government bond] inclusion in post-PEPP purchases, constructive macro-outlook and stable political landscape,” a JPM announcement reads.
The Eurozone’s central bank continues to purchase Greek bonds under the PEPP with a waiver, which allows the purchases even as Greece doesn’t meet the minimum credit rating requirements yet. However, the ECB doesn’t buy Greek bonds under the regular asset purchase program.
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