The Greek 10-year-bond yield hit a new record low at 1.20% on Friday afternoon, down from 1.23% yesterday.

Investors are confident Greece’s credit rating will be upgraded by a point to B + from BB-, by the Standard and Poor’s Ratings House. However, given that Class B + is four degrees lower than what is considered safe for investment, the rally of the last two days is likely due to expectations of a higher upgrade.