Bloomberg News

German 10-Year Bunds Pare Decline; Leaving Yield at 1.23 Percent

June 06, 2012

European Central Bank President Mario Draghi

European Central Bank President Mario Draghi said “it wouldn’t be right for monetary policy to fill other institutions’ lack of action. Photographer: Hannelore Foerster/Bloomberg

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 kjenkins3@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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