Bond yields ease in
 southern countries


Southern European bond yields fell by about 10 basis points on Friday as markets remained focused on European Central Bank action to mitigate eurozone economic stress and prevent Italy’s credit rating from tumbling into junk territory.

European Union leaders agreed a 1.5-trillion-euro rescue package but delayed a decision on the program’s details until the summer. 

Italy’s 10-year bond yield was down 10 basis points. It touched a four-day low around 1.87 percent, having risen as high as 2.11 percent earlier.

Yields also fell in Spain, Portugal and Greece. Spain’s 10-year government bond yield slipped 9.5 bps to 0.96 percent, Portugal’s was down 10.5 bps at 1.10 percent and Greek 10-year bond yields fell by about 5 bps.