Spanish and Italian 10-year government bonds rose a second day, reducing the additional yield investors demand to hold the securities instead of benchmark German bunds. Irish bonds declined.
The yield on Spanish 10-year bonds fell four basis points to 5.30 percent as of 8:24 a.m. in London, narrowing the yield premium over similar-maturity German debt by seven basis points to 244 basis points. Italian 10-year yields also fell four basis points, to 4.50 percent.
Irish bonds slid, pushing the yield three basis points higher to 9.16 percent.