Spain Leads Bond Rally With Yields Falling to Records
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The government bonds of Spain, Italy and Ireland rose this week, pushing the nations’ 10-year yields to record lows, as improving economic data and the prospects of additional European Central Bank stimulus buoyed demand.
Benchmark German 10-year bunds climbed for a second week, with yields falling to the least in 11 months, before the ECB governing council meet in Brussels next week. A report yesterday showed euro-area manufacturing grew in April at the fastest pace in three months.