Italian, Spanish Debt Gains on Greek Bailout Optimism
This article is for subscribers only.
Italian and Spanish bonds rose for a fourth day after European finance ministers agreed on a second bailout for Greece, spurring optimism the euro-area debt crisis will be contained.
The extra yield investors demand to hold Italy’s 10-year debt instead of German bunds shrank to the lowest since September after Greece won 130 billion euros ($172 billion) in aid following overnight talks in Brussels. German two-year note yields reached to the highest level in two months as demand for the region’s safest assets waned. Spain and the European Financial Stability Facility sold bills.