World Business NewsA round up of the latest news for those doing business internationally
Spanish bonds drop a 2nd week on bets ECB rates spur is waning
Zone(s): Spain ¦ Sector(s): Banking, Finance
[21 June 2014, Bloomberg] By Eshe Nelson: Spain’s government bonds fell for a second week as investors bet a rally after the European Central Bank introduced new stimulus was overdone and as the nation extended a run of debt sales.The extra yield investors get to hold Spanish bonds instead of German bunds widened to the most since June 6, the day after ECB President Mario Draghi unveiled a package of measures that drove yields across the region down to records. German two-year note yields touched the lowest in more than a year as a gauge of overnight borrowing costs in euros fell to a record. Italy’s bonds slid as the nation sold securities in an exchange auction.