Euro-Area Bond Gains Send Yields to Records on ECB Buying Plans
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Government bonds across the euro area advanced, sending yields to record lows, as investors absorbed details of the European Central Bank’s extended sovereign debt-purchase program.
The rate on securities from Spanish two-year notes to Belgian 30-year bonds dropped to all-time lows after ECB President Mario Draghi said Thursday the euro area’s national central banks will start buying the bonds of their home markets from March 9. Euro-region securities pared their gains and German bunds fell after a U.S. report showed employers added more jobs in February than economists forecast, damping demand for fixed-income assets.