BLBG:Spanish Bonds Drop as Report Shows Euro-Area Manufacturing Fell
Spanish 10-year bonds fell after a report showed euro-region manufacturing contracted for a ninth month in April, adding to signs an economic slump in the region is deepening.
Benchmark German bunds erased a decline after separate data showed joblessness in Europe’s biggest economy unexpectedly rose. Portugal is scheduled to auction 203- and 378-day bills. Euro-region bond markets reopened today after closing for a holiday yesterday.
Spanish 10-year yields rose six basis points, or 0.06 percentage point, to 5.83 percent at 9:24 a.m. London time. The price of the 5.85 percent bonds due in January 2022 fell 0.46, or 4.60 euros per 1,000-euro ($1,317) face amount, to 100.11.
The rate on benchmark 10-year bunds was little changed at 1.66 percent.
To contact the reporters on this story: Lucy Meakin in London at lmeakin1@bloomberg.net; David Goodman in London at dgoodman28@bloomberg.net.
To contact the editors responsible for this story: Daniel Tilles at dtilles@bloomberg.net.
