German Bonds Advance as Investors Mull ECB Loans, Scotland Vote
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German government bonds rose, pushing 10-year yields down from near a five-week high, as investors weighed the market impact of the European Central Bank’s new loans stimulus program due to start this week.
The ECB will allot the first funds under its targeted longer-term refinancing operations, or TLTROs, on Sept. 18, part of measures to boost the region’s economy. Bunds advanced along with Treasuries as data showed U.S. industrial production unexpectedly declined in August. Austrian and Dutch securities rose before the Federal Reserve’s open market committee begins a two-day policy meeting tomorrow and Scotland holds a vote on independence this week.