Italy’s Bonds Advance Second Day on Recovery Prospects
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Italy’s government bonds advanced for a second day as optimism the global economy is recovering boosted demand for higher-yielding assets.
The nation’s 10-year yields dropped to the lowest level since inconclusive parliamentary elections on Feb. 24-25, as concern eased that political paralysis will drive up borrowing costs. Spain’s 10-year securities rose for a sixth day, the longest run of gains since August, as the Dow Jones Industrial Average extended a record high. German bunds were little changed before the European Central Bank sets interest rates tomorrow.