German 10-year government bonds pared a decline as European Central Bank President Mario Draghi said “it wouldn’t be right for monetary policy to fill other institutions’ lack of action.”
The 10-year yield was two basis points, or 0.02 percentage point, higher at 1.23 percent as of 1:59 p.m. London time, after rising as much as seven basis points to 1.28 percent.
Draghi was speaking in Frankfurt after ECB policy makers left the main refinancing rate at a record-low 1 percent.
To contact the reporter on this story: Keith Jenkins in London at email@example.com
To contact the editor responsible for this story: Daniel Tilles at firstname.lastname@example.org