French Bonds Rise on Draghi as Austria’s Yield Drops to Record
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French, Austrian and Belgian bonds rose, pushing 10-year yields to record lows, amid speculation the European Central Bank will keep monetary policy accommodative, boosting demand for alternatives to German bunds.
Ten-year German bunds advanced after data showed U.S. employers hired fewer workers than economists forecast in March. Spanish and Italian securities also gained after ECB President Mario Draghi said yesterday policy makers “stand ready to act.” Most euro-denominated government bonds climbed for a second day amid bets the Bank of Japan’s 7.5 trillion yen ($77.9 billion) of monthly bond purchases will increase investor appetite for higher returns.