German government bonds rose with their euro-area peers, pushing 10-year yields from Austria to Spain down to records, as concern the global economy is slowing boosted demand for fixed-income assets.
French yields dropped to a new low even after the debt was placed on negative watch by Fitch Ratings late yesterday. That followed Standard & Poor’s Oct. 10 lowering of the nation’s outlook to negative from stable. Ten-year yields also dropped to records in Finland, which lost its AAA rating last week, Belgium and the Netherlands. Greek bonds extended their slide, pushing 10-year yields to a seven-month high.