ECONOMY

Greek and Spanish bonds are on the rise

Spanish government bonds rose on Wednesday, pushing 10-year yields to the lowest since 2009, as improving euro-area retail sales and German factory orders added to signs the region’s recovery is gathering momentum.

Greek 10-year securities advanced for a second day, with yields falling to the least since May 2010.

“The euro-peripheral countries have come a long way from the near-death situation two years ago,” said Soeren Moerch, head of fixed income trading at Danske Bank A/S in Copenhagen.

Greek 10-year yields slid 11 basis points to 7.73 percent after declining to 7.63 percent, the lowest level since May 19, 2010.

European government bonds rallied after Ireland raised 3.75 billion euros from a 10-year sale through banks on its return to financial markets following an exit from an international bailout.

[Bloomberg]

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