Greek Notes Rise a Fifth Day as Euro Area Approves Aid Extension

Greece’s bonds rose as euro-area finance ministers approved a bailout extension, deferring a showdown over the nation’s future in the currency bloc.

Greek three-year notes posted their longest run of gains in a month after Prime Minister Alexis Tsipras’s government pledged to revamp tax collection, consolidate pension funds and maintain sales of state-owned assets. Spanish and Italian securities advanced and yields on Irish and Portuguese debt fell to records earlier Tuesday as the prospect of a Greek deal boosted demand for the bonds of region’s most indebted countries.