Greek bond yields drop sharply ahead of Eurogroup meeting

Greek bonds jumped ahead of the European Commission's first report on the technical assistance provided to Greek authorities via the Structural Reform Support Service which was due to be published later in the day.

At their regular scheduled weekly meetings, on 7-8 November, finance ministers from the Eurozone and European Union were also set to discuss the Mediterranean country's situation in the context of the Greece's stability support programme.

Also on Monday, the Organisation for Cooperation and Development issued its Competition Assessment for Greece, in which it recommended easing regulatory barriers that hampered competition in five sectors of the Greek economy accounting for 11.2% of the country's gross domestic product.

Brussels estimated the measures, targetting construction; media; wholesale trade and a number of manufacturing sub-sectors such as chemicals and pharmaceuticals could have a positive impact on the Greek economy of roughly €414m.

As of 1336 GMT, the yield on the benchmark 10-year Greek government bond was down by 30 basis points at 7.45%.