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German, French Government Bond Yields Decline to Records

Germany’s bonds advanced, with 10-year yields sliding below 1.2 percent for the first time, as signs that European financial turmoil is sapping global growth boosted demand for the safest assets.

French, Dutch, Austrian and Finnish 10-year yields all declined to records after a U.S. report showed the world’s largest economy expanded less than previously estimated last quarter. Ireland’s bonds fell as voters cast their ballots on a European Union fiscal stability treaty. Ten-year bund yields dropped almost half a percentage point this month as Greece was locked in a political stalemate and Spain nationalized its third-largest banking group.