Draghi Starting Euro Bond Buying Is Not One-Way Bet
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The last of the gains made after the start of the European Central Bank’s bond-buying program vanished from the euro-area’s sovereign market last week.
In the three months before the quantitative easing started on March 9, Portugal’s bonds earned three percentage points more than the mean for the region as a whole. Portugal, along with its Mediterranean neighbors, then underperformed the group, which on April 30 gave up the last of its QE-fueled gains.