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Italy’s Bonds Drop With Spain’s as Greek Notes Extend Selloff
Italian government bonds declined with Spain’s as investors grew skeptical on how long the European Central Bank will be able to insulate the rest of the region from political turmoil in Greece. The Greek government’s three-year notes slid, pushing yields up to almost 6 percentage points above the level before the Jan. 25 elections that brought to power a government opposed to the nation’s austerity program. German 30-year bunds, which yield about 1.3 percentage points less than equivalent-maturity U.S. debt, advanced before the nation auctions bonds due in August 2046, signaling demand persists for havens. The ... (full story)