German Bund Yields Fall to Records as Crisis Escalates on Greece
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German 10-year bonds rose for a fifth week, pushing yields down to records, as heightened concern Greece will withdraw from the euro area boosted demand for the region’s safest securities.
Two-, five- and 30-year yields also declined to all-time lows while the bonds of AAA rated Finland and the Netherlands advanced. Investors snapped up bunds as Fitch Ratings downgraded Greece and Moody’s Investors Service cut the ratings of 16 Spanish banks. Gross domestic product in the euro region stagnated last quarter, a European Union report showed May 15.