REUTERS/John Kolesidis
Greece made its triumphant return to the bond markets this morning.
According to Reuters, Greece sold 3 billion euros (or around $4.16 billion) of 5-year bonds at an interest rate of 4.95%.
Not only is this a low interest rate for Greece, it's also pretty low considering the country debt is rated "junk," which means it continues to be at pretty high risk of default.
"Greece is rated nine notches below investment grade at Caa3 by Moody's. Standard and Poor's and Fitch rank Greece six notches below investment grade at B-," noted Reuters Helene Durand.
Crushing debt levels, soaring interest rates, and an all-out financial crisis in southern Europe kept Greece shut out of the bond market since 2010.