Spanish Bonds Rise a 7th Day After Debt Sale; Bunds Drop
This article is for subscribers only.
Spanish 10-year bonds climbed for a seventh day as borrowing costs fell at a debt sale and European Central Bank President Mario Draghi said data suggest the euro-area economy will stabilize.
Spain’s 10-year yields approached the lowest in more than a year as the nation exceeded its target at an auction of government debt. German bunds led losses among so-called core markets as Draghi’s comments damped demand for safer assets. The yield on Portugal’s five-year notes fell to the lowest level in more than two years after Standard & Poor’s raised the country’s credit-rating outlook.