Irish Bonds Climb on Rating Upgrade as Oil to Copper Fall

Irish bonds led gains in European debt after Moody’s Investors Service raised the nation’s credit rating from junk. Asian stocks, crude oil and copper declined as growth in Chinese factory output trailed estimates, while the Australian dollar rebounded and platinum jumped.

Ten-year Irish bond yields sank 20 basis points to 3.24 percent by 4:05 p.m. in New York. European shares fell as Deutsche Bank AG slid 5.4 percent after posting a surprise loss. The MSCI Asia Pacific Index snapped a three-day climb while Brazil’s Ibovespa fell to a five-month low and Canadian stocks rose. Oil in New York slipped from a two-week high as copper fell 0.4 percent while platinum gained the most since October. Australia’s dollar rose for the first time in five days.