Euro-Area Bonds Rally as Draghi Caps Buying at ECB Deposit Rate
Draghi's ECB News Conference in Two Minutes
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Euro-area government bonds rallied as Mario Draghi said the European Central Bank’s debt-purchase plan wouldn’t include securities with yields below its minus 0.2 percent deposit rate, fanning demand for longer-maturity debt.
Portuguese securities led gains, pushing yields toward record lows, after the ECB President spoke at a press conference in Cyprus. Missing out on the rally were German two-year notes, whose yields were already below the deposit rate.