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Italian Two-Year Notes Reverse Decline; Spanish Notes Advance

Italian two-year notes reversed a decline, sending the yield five basis points lower to 3.70 percent at 8:38 a.m. London time. The rate earlier increased as much as eight basis points to 3.83 percent.

Spanish two-year notes also rose, with the yield dropping three basis points to 4.14 percent.

The rate on the nation’s 10-year bonds rose four basis points to 6.31 percent.

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