HSBC on Friday recommended buying five-year Greek government bonds after the country won a debt relief deal, telling clients the bond offered value especially in light of expected credit rating upgrades. "Uncertainty and funding needs in the next five years are low, making sub-10-year bonds attractive," HSBC analysts said in a note. "Greece still trades at a substantial premium to other eurozone sovereigns relative to its credit rating."
Euro zone finance ministers earlier this month extended maturities and deferred interest of a major part of their loans to Greece along with a big cash injection ahead of its exit from its bailout in August.