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Greece Dreams of Bond Sale

As Ireland, Portugal, and other European nations sell bonds, the country that sparked the sovereign-debt crisis says it may also sell bonds before year-end.

By Neal Armstrong and David Goodman, Bloomberg | Updated on January 09, 2014

Europe’s financial markets are picking up where they left off at the end of 2013, extending a rally in bonds and stocks that’s making the region’s sovereign debt crisis little more than a fading memory.

Ireland sold bonds this week, returning to financial markets after completing a three-year bailout program. Portugal—another aid recipient—is holding a sale today. Banks in Spain and other periphery countries have never been able to borrow as cheaply as they can now. The Stoxx Europe 600 Index of stocks closed at its highest level since May 2008 yesterday, and the euro is about its strongest since 2011 against the dollar.

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