Bloomberg reports that Greek bonds yields dropped to a record low as support from the European Central Bank and the European Union quells investor concerns about the health of the region’s most indebted nation in the face of the coronavirus.

Yields on the nation’s 10-year securities fell as much as six basis points to 0.881%, dropping below a previous low set in February, before the height of the pandemic crisis in Europe. 

The rally is “consistent with the collapse in credit and term premia across European rates markets, and with rising expectations of ECB easing,” said Antoine Bouvet, senior rates strategist at ING Groep NV in London. “The trend is your friend.”

The Greek government expects public debt-to-GDP will be close to 200% for 2020 before declining again in 2021. The draft budget presented Monday sees growth of as much as 7.5% in 2021 after a sharp decline of 8.2% this year, mainly due to a forecast 30.4% increase in investments.