German Notes Rise Fourth Day on ECB Rate Bets, Production Slump
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German government notes advanced for a fourth day amid speculation the European Central Bank will cut interest rates and after a report showed the country’s industrial production unexpectedly declined in October.
Finnish and Dutch two-year yields fell below zero and Germany’s approached a record low as three officials with knowledge of ECB deliberations said a majority of policy makers were open to a rate cut. Greece’s bond yields fell to the least since the nation’s debt was restructured in March on the last day of trading before holders submit offers for a state buyback of the securities. German 10-year bund yields rose from a four-month low after a U.S. labor market report.