German Yields Near 12-Month Low Before Confidence Data
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Euro-area government bonds rose, with German 10-year yields dropping to the lowest in almost a year, as the Bundesbank was said to be open to more monetary stimulus from the European Central Bank.
Austrian, Dutch and French securities all rallied as a German report showed investor confidence worsened for a fifth month in May, spurring demand for safer assets. Spanish bonds advanced as a sale of inflation-linked debt via banks was said to attract more than 20 billion euros ($27.4 billion) of orders. Italy’s securities gained even as the nation auctioned 7.25 billion euros of government debt.