German Bonds Advance on Slower U.S. Job Growth, ECB Rate Pledge
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Germany’s bonds rose as U.S. payrolls increased at the slowest pace since January 2011 and after the European Central Bank said it planned to keep interest rates low for a prolonged period to support the recovery.
Benchmark 10-year bunds headed for a second weekly gain as Standard & Poor’s affirmed Germany’s AAA credit rating. French securities rose after a report showed industrial production increased more in November than economists forecast, while Italian bonds also advanced. ECB President Mario Draghi yesterday strengthened his pledge to keep borrowing costs low for an extended period.