German Note Yield Falls to Zero as Spain Urges EU Aid for Banks
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German bonds rose, pushing two-year note yields to zero, as Spanish Budget Minister Cristobal Montoro called for European funds to be used to shore up the nation’s banks.
Ten-year bunds pared a decline after a German report showed factory orders fell more in April than economists forecast, underpinning demand for the safest assets. Spanish bonds advanced as finance ministers and central-bank governors from the Group of Seven nations held a call to discuss the debt crisis. Belgium and the European Financial Stability Facility sold bills.