Greek, Italian and Spanish bonds post gains
Portugal’s government bonds led gains in euro-area sovereign debt on Wednesday after its central bank chief told TV station TVI that Banco Espirito Santo SA can raise more capital as an associated company missed a payment.
Greek, Italian and Spanish bonds rose and Portugal sold 1.25 billion euros of bills even after Rioforte Investments SA, a holding company in the Espirito Santo group, failed to pay 847 million euros of short-term debt.
The yield on 10-year Greek debt slid four basis points to 6.24 percent.
Portugal’s government securities returned 14 percent this year through Tuesday, the best-performing sovereign debt after Greece, which earned 26 percent, according to Bloomberg World Bond Indexes.
[Bloomberg]
