Greek long-term bonds are being issued for the first time since its bailout in 2010 with the sale expected to be finalized Thursday. Estimates put the value of the 5-year bonds at a minimum of €500M. US and global equity markets remain flat this week with negative returns in the 40 basis point range.
“Greece’s issuance of its first long-term bonds since its bailout is a big step for the country and may be a sign the country’s economy is turning a corner,” said David Krein, Head of Research, NASDAQ OMX Global Indexes.
INDEX MOVES THIS WEEK
- NASDAQ BIOTECHNOLOGY INDEX (NBI) was up 2.53% since Friday’s close. Year-to-date performance for the index is up 2% after being up north of 20% at the end of February.
- PHLX GOLD/SILVER SECTOR (XAU) was up 1.26% as of noon on Wednesday, from the most recent Friday close. The price of gold is currently $1,305 per ounce, up $2 this week.
- NASDAQ INTERNET (QNET) was up 1.74% this week. eBay, Amazon, Priceline, Facebook and Google are the five biggest holdings in the index.
INDEX TO WATCH
- The price of coffee futures has exploded since the end of January, increasing from $120 to $192 today. Track the space by monitoring the NASDAQ Commodity Coffee Index ER (NQCIKCER). The index is up 6% this week and 75% year-to-date.