Italian, Spanish Notes Stay Higher After Euro-Region PMI Report

Italian and Spanish notes stayed higher after a report showed European services and factory output contracted less than initially estimated in January.

Italy’s two-year yield dropped eight basis points, or 0.08 percentage point, to 1.65 percent as of 9:07 a.m. London time. The rate on similar-maturity Spanish notes dropped seven basis points to 2.81 percent.

German 10-year bunds fell, with the yield rising two basis points to 1.63 percent.

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