Bunds Rise as Europe Withholds Aid for Greece; Spain Bonds Fall
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German bunds rose, pushing yields down the most in two months, after European finance ministers held back a rescue package for Greece, increasing pressure on politicians in Athens to ratify new austerity measures.
German 10-year yields fell from yesterday’s eight-week high as Finance Minister Wolfgang Schaeuble told lawmakers in Berlin that Greece is missing its targets. George Karatzaferis, the leader of the Laos party supporting the government in Athens, said he couldn’t support an austerity accord needed for a bailout. Spanish bonds had their biggest weekly drop since Jan. 6 and Italy’s 10-year debt fell for the first time this week.