Italian, Spanish and Irish 10-year government bonds rose, reducing the additional yield investors demand to hold the securities instead of benchmark German bunds.
The gains sent the yield on Spanish 10-year debt three basis points lower to 5.54 percent as of 8:02 a.m. in London. The yield premium over similar-maturity German debt narrowed five basis points to 278 basis points.
The Italian 10-year yield also fell three basis points and the yield on Irish securities dropped four basis points to 9.40 percent.
The German bund yield climbed three basis points to 2.71 percent.