German Yield Falls Below Zero on Greece Vote; Spanish Bonds Drop
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German government bonds rose, pushing two-year note yields below zero for the first time in two months, as Greece prepared for a vote as soon as this week on austerity measures needed to keep the nation in the euro.
Ten-year bund yields fell to the lowest level in more than five weeks as Greek Prime Minister Antonis Samaras struggled to win political support for the measures needed to assure the country’s financial lifeline. Spanish bonds declined for a second day after a report showed jobless claims rose the most in nine months in October. The country is scheduled to sell a combined 4.5 billion euros ($5.75 billion) of debt with maturities of up to 20 years this week.