Greece sold 26-week treasury bills with a yield of 4.88%, little bit higher than the prior yield of 4.8% recorded at April 12 auction, to gather 1.625 billion euros. Demand was higher at 3.58 times relative to the prior of 3.81 times.

The selling came one day after S&P downgrade to the country's credit rating to become just one notch below the lowest rating.