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Peru Sol Bonds Rise as Global Growth Optimism Boosts Risk Demand

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Dec. 11 (Bloomberg) -- Peruvian bonds rose, pushing down yields the most in three days, as increasing German investor confidence spurred demand for emerging-market assets.

The yield on the nation’s benchmark 7.84 percent sol-denominated bond due in August 2020 declined four basis points, or 0.04 percentage point, to 3.95 percent at 3:24 p.m. in Lima, according to data compiled by Bloomberg. The price climbed 0.27 centimo to 125.36 centimos per sol.

Global stocks rose and U.S. Treasuries fell on optimism Germany, Europe’s biggest economy, will withstand the region’s debt crisis. German investor confidence jumped more than economists anticipated in December, according to the ZEW Center for European Economic Research in Mannheim.

Increased demand for Peru’s debt reflects “the improvement in global risk sentiment,” said Diego Donadio, a Latin America strategist at BNP Paribas in Sao Paulo.

Peru’s economy will expand 6.3 percent this year, Finance Minister Miguel Castilla said at an event in Lima today. He previously forecast growth of about 6 percent.

The sol was little changed at percent to 2.5755 per U.S. dollar at today’s close, according to price compiled by Bloomberg. The central bank bought $60 million in the spot market today and said on its website it paid an average 2.5722 soles per dollar.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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