ROME: Italy’s government bonds soared for a second day as Greek and euro zone officials’ talks boosted demand for Europe’s higher-yielding debt.
“The talks seem to be turning more amicable,” said Peter Schaffrik, head of European rates strategy at Royal Bank of Canada in London. “The market is taking comfort here. The GDP data was strong. If you take that all together it’s a positive development no doubt.”
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Italy’s 10-year yield fell six basis points, or 0.06 percentage point, to 1.59 percent at 9:28 a.m. London time, the biggest decline since Jan. 22. The 2.5 percent bond rose 0.58, or 5.80 euros per 1,000-euro face amount, to 108.275. The rate on Spain’s 10-year debt dropped four basis points to 1.58 percent.
