WSJ:Spain, Italy Bonds Advance After Draghi Pledges To Preserve Euro
Spanish and Italian bonds extended their advance after European Central Bank President Mario Draghi said the central bank is ready to do whatever it takes to preserve the currency.
Spain’s two-year note yields dropped 40 basis points, or 0.4 percentage point, to 6.02 percent at 11:39 a.m. London time, while the nation’s 10-year rates slid 14 basis points to 7.24 percent.
Italian two-year note yields were 38 basis points lower at 4.57 percent.
“Within our mandate, the ECB is ready to do whatever it takes to preserve the euro,” Draghi said in a speech in London today. “And believe me, it will be enough.”
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
