Spanish Bonds Jump on Optimism Officials to Stem Crisis
This article is for subscribers only.
Spanish 10-year bonds jumped, headed for the biggest weekly gain since January, as investors sought higher-yielding securities on optimism European policy makers are taking steps to stem the euro area’s debt crisis.
German 10-year bunds declined after the European Central Bank relaxed some rules on the collateral that banks can offer in exchange for its loans. German Chancellor Angela Merkel will meet her French, Italian and Spanish counterparts in Rome today. Luxembourg Prime Minister Jean-Claude Juncker said aid for Spain to help finance its banks will start from Europe’s temporary rescue facility before being transferred to the permanent fund, once it’s set up.