Italian Bonds Rise as Draghi Says ECB Could Buy Sovereign Debt
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Italian bonds rose, pushing 10-year yields down to the lowest in more than a month, after European Central Bank President Mario Draghi explicitly cited government-security debt buying as a stimulus tool.
Spanish bonds advanced for a second day, while benchmark German 10-year debt declined for the first time in five days, reflecting waning demand for haven assets even after data showed Japan has gone into recession. Belgium’s five-year rate rose from a record as the nation sold the securities at the lowest-ever average yield.