Draghi Is Bonds’ Best Friend as Yields Fall to Records

Mario Draghi has once again proved himself to be the bond market’s best friend.

A jump in government securities across the euro area sent yields to record lows today, inspired by a fresh package of stimulus measures from the European Central Bank. Spain’s 10-year rate fell the most since June 2013 as sovereign bonds from the euro area’s most-indebted nations extended a surge during ECB President Draghi’s 2 1/2-year tenure that has hauled down borrowing costs from the highest in the currency bloc’s history.