Euro-Area Bonds Advance on Draghi’s Pledge to Stay Accommodative
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Euro-area bonds rose, led by peripheral nations such as Italy and Spain, as European Central Bank President Mario Draghi’s pledge that monetary policy will stay accommodative boosted the appeal of fixed-income assets.
Germany’s 10-year bund yield fell the most in three months after Draghi told the French National Assembly that policy makers stood ready to act to support growth in the region. Italy’s 10-year yield dropped from the highest level in four months before the nation sells up to 5 billion euros ($6.51 billion) of five- and 10-year securities tomorrow.