Greek Deal Kickstarts Best Day Since QE for Periphery’s Bonds

The nascent agreement to extend Greece’s bailout funding re-energized bonds from the euro-region’s most indebted nations, sparking their best day since the European Central Bank announced a 1.1 trillion euro ($1.2 trillion) stimulus plan.

Italian and Spanish securities surged, and Portuguese 10-year yields touched a record low, as the accord avoided a cash crunch that threatened to push Greece out of the currency bloc. Greek note yields fell to the lowest level in more than three weeks, even with the region’s finance chiefs still needing to approve a list of measures the government will undertake as part of the agreement.