Yields on Greek government debt have hit fresh lows in the aftermath of the French presidential result, as investors’ fears of a eurozone breakup recede.

The Greek 10-year government bond yield dropped to 5.569 per cent on Monday, down more than 13 basis points (0.13 percentage points) at pixel time from last week’s lows and the lowest level since September 2014. (Yields fall when prices rise.)

Yields fell last week after the country reached a deal with creditors on fiscal and structural reforms in order to unlock bailout cash programme, paving the way towards debt relief talks.

On Monday the trend continued as markets digested Mr Macron’s commanding win in the second round of the French election. The new French president is a stalwart supporter of the eurozone, campaigning on a manifesto that espoused reform of the bloc.

The market for Greek government bonds is relatively small as the vast majority of its debt is held by creditors in the EU and IMF, but shifts in its debt pricing have come to be seen as an indicator of wider market sentiment about the health of the eurozone system.

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