Spain’s Bonds Decline Before Fed Meeting; German Bunds Advance
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Spanish bonds declined as Federal Reserve officials gathered in Washington for a two-day meeting to decide whether to start reducing asset purchases that have helped suppress borrowing costs around the world.
Italian 10-year securities snapped a two-day gain as data confirmed inflation in the euro area remained below the European Central Bank’s target for a 10th consecutive month in November. Germany’s bunds advanced even as a report from the ZEW Center for European Economic Research showed investor confidence in the nation rose to a seven-year high this month. A gauge of expectations of money-market interest rates fell to the lowest in a month.