German Bunds Rise as U.S. Growth Slows; Greek Notes Snap Decline

German 10-year bonds rose as a report showed the U.S. economy grew at a slower pace than forecast in the first quarter, stoking demand for the safest assets.

Greek two-year note yields fell from a record after a report showed the nation’s lenders’ reliance on European Central Bank funding declined in February. Portugal’s two-year note yield rose to a euro-era record of 12.05 percent as the nation said it plans to sell up to 1 billion euros ($1.5 billion) of three-month bills next week. U.S. gross domestic product grew at a 1.8 percent annual rate from January through March after a 3.1 percent pace in the final quarter of 2010. Economists projected 2 percent growth.