Europe Taps Bond Market to Take Advantage of Record-Low Yields
- Spain, Italy sell bonds after rally on ECB stimulus hints
- Germany, Portugal auction bonds at all-time low yields
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European nations are taking advantage of a slump in long-term borrowing costs to raise money from debt sales at record-low levels.
Spain and Italy each sold six billion euros ($6.8 billion) of bonds via banks, making it the second-biggest day for primary issues this year. Portugal and Germany both sold benchmark debt at unprecedented yields in auctions on growing conviction for further stimulus from central banks.