Irish, Portugal Bonds Outpace Peers on ECB Buying: Euro Credit
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European Central Bank purchases ensured Irish and Portuguese bonds beat their euro-region peers this month even as Deutsche Bank AG predicted Portugal will be the next country forced to seek aid.
Irish bonds handed investors a 6.9 percent return since the end of November, trimming losses this year to 10.3 percent. Portuguese debt advanced 3.7 percent, compared with a gain of 1 percent for Spanish securities and 1.04 percent for Italian bonds. Investors lost money on AAA rated German and French debt, according to data compiled by Bloomberg and the European Federation of Financial Analysts Societies.