Spanish Bonds Rise as Catalonian Voters Reject Independence Bid
- Artur Mas claims mandate with 48% support for Junts pel Si
- German bunds also advance before inflation data this week
Catalans 'Back' President's Vision for Independence
Spain’s government bonds jumped, ending a three-day decline, after pro-independence parties received less than 50 percent of the vote in Catalonia’s local elections, reducing for now the prospect of a clash with the central government.
The nation’s 10-year debt outperformed Germany’s bunds, Europe’s benchmark sovereign securities, for the first time in six days. The election result left Catalan President Artur Mas, who favors breaking away from Spain, needing a deal with an anti-capitalist party which rejects the rule of law if he wants to govern. Sovereign securities across the euro region were supported before data this week which, economists predict, will show inflation slowed to zero this month.