Spanish, Italian 10-Year Yield Spreads to Bunds Narrow; Irish Bonds Fall
Spanish and Italian government bonds opened little changed while German bunds fell, narrowing the difference in yield, or spread, between the securities for the first time in four days.
Spanish 10-year debt yielded 5.6 percent as of 7:37 a.m. in London, reducing the additional yield investors demand to hold the securities instead of the benchmark German bonds by three basis points to 265 basis points.
The Italian-German yield spread also narrowed three basis points, to 216 basis points.
Irish 10-year bonds declined, sending the yield up eight basis points to 12.52 percent.
To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
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