EU Peripheral Bonds Rise as Sales Ease Debt Concern

Irish, Greek and Spanish bonds rose after the nations’ governments sold 8.9 billion euros ($11.7 billion) of securities, easing concern they will struggle to finance their debt burdens.

Ireland auctioned 1.5 billion euros of 2014 and 2018 debt, the maximum amount sought, the National Treasury Management Agency in Dublin said today. Spain sold 7 billion euros of 12-and 18-month bills, with Greece selling 390 million euros of 13-week securities. Yields on the 10-year bonds of all three countries fell relative to benchmark German bunds and the euro extended gains following the sales.