German Bund Yields 2 Basis Points From Week Low on G-20
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Italian two-year notes surged, pushing the yield to the least in almost 11 months, as borrowing costs fell at a sale of bills before the European Central Bank’s second round of three-year loans to financial institutions.
Spanish two-year notes gained for an eighth day, their longest run of advances since December. The ECB is due to allocate banks unlimited cash in its second longer-term refinancing operation in two days’ time. Germany’s 10-year bond yields slid to the lowest in more than a week as Moody’s Investors Service said the risk of Greece defaulting is high and Chancellor Angela Merkel said there is no quick solution to the debt crisis.