Spanish, Italian and Portuguese bonds advanced after Moody’s Investors Service said yesterday it was holding Spain’s credit rating at investment grade.
Spain’s 10-year bond yield fell 17 basis points, or 0.17 percentage point, to 5.64 percent as of 7:35 a.m. London time, while the rate on similar-maturity Italian debt fell 11 basis points to 4.83 percent, the lowest since March 19.
Portugal’s 10-year yield fell below 8 percent for the first time since March 29, 2011, dropping as much as seven basis points to 7.97 percent.
To contact the reporter on this story: David Goodman in London at email@example.com
To contact the editor responsible for this story: Paul Dobson at firstname.lastname@example.org