Italian, Spanish 10-Year Bonds Advance After German Court Ruling

Italian and Spanish government bonds rose after Germany’s Constitutional Court ratified Europe’s permanent bailout fund, with conditions.

Italy’s 10-year bond yield fell three basis points, or 0.03 percentage point, to 5.05 percent at 9:28 a.m. London time. The rate on equivalent-maturity Spanish debt dropped five basis points to 5.65 percent.

Italy’s two-year note yield declined seven basis points to 2.24 percent and Spain’s slid four basis points to 2.89 percent.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

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