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Portugal's Bonds Lead Gains as ECB Raises QE Asset-Buying Limit

  • ECB policy makers maintain interest rates at record lows
  • Region's inflation rate remains below central bank's goal
Updated on

Portuguese government bond yields dropped the most in eight weeks as the securities climbed with those across the euro area after Mario Draghi said the European Central Bank raised the cap on the proportion of bonds it’s able to purchase under its stimulus program.

German 10-year bunds, Europe’s benchmark sovereign securities, climbed for a third day. Italian bonds advanced the most since July as ECB President Draghi said the central bank set a purchase limit of 33 percent of a country’s debt stock, up from 25 percent previously. He spoke in Frankfurt after officials kept interest rates at record lows Thursday.