German Bonds Rise With Yield Below 1.5% as Greece Falls
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German government bonds advanced, pushing 10-year yields below 1.50 percent for the first time since June, as stocks slumped after JPMorgan Chase & Co. said first-quarter profit declined more than forecast.
Italy’s bonds dropped for the first time in three days as investors bet a rally that pushed the nation’s 10-year yield to a record low this week was overdone. Greek securities declined for a second day after the nation returned to debt markets yesterday. Portugal’s 10-year bonds fell even after Fitch Ratings raised the country’s outlook to positive from negative, citing “good progress” in reducing its budget deficit.