Italy’s Bonds Drop With Spain’s on Concern ECB to Limit Support
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Italian 10-year bonds fell, with yields rising the most in more than two months, on speculation the European Central Bank will prevent lenders using future loans it provides to buy sovereign debt.
Spanish 10-year securities dropped for a third week. German 10-year yields climbed by the most since August as a report yesterday showed U.S. employers added more workers in November than analysts forecast and the jobless rate dropped, boosting the case for the Federal Reserve to cut stimulus. The ECB wants to ensure any future offerings of long-term cash find their way into the economy, and not hoarded by banks, President Mario Draghi said after a policy meeting in Frankfurt.