Italy, Spain Notes Extend Drop as ECB Said to Wait on Bond Plan

Italian and Spanish notes extended a decline as two European Central Bank officials said policy makers may wait for Germany’s Constitutional Court to rule on the legality of Europe’s permanent bailout fund before unveiling details of a plan to buy government bonds.

Spain’s two-year note yield climbed seven basis points to 3.79 percent at 12:24 p.m. and the rate on similar-maturity Italian securities increased 13 basis points to 3.33 percent.

Germany’s 10-year bunds extended an advance, pushing the yield five basis points lower to 1.33 percent.

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