(Corrects second paragraph to say July 19.)

Spain’s 10-year government bonds extended their advance, pushing the yield below 7 percent, after European Central Bank President Mario Draghi said policy makers will do whatever is needed to preserve the euro.

Ten-year yields fell 38 basis points to 6.99 percent at 1:04 p.m. London time, falling below 7 percent for the first time since July 19.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

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