Spain Bonds Gain With Peripheral Debt as Confidence Rises
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Spanish government bonds rose for a second week, pushing 10-year yields to a seven-year low, as evidence that the euro-area recovery is gaining momentum boosted demand for the region’s higher-yielding debt.
“The periphery has had an incredible start to the year,” said Oliver Eichmann, Frankfurt-based head of portfolio management for the euro area at DWS Investments, a unit of Deutsche Asset & Wealth Management, which oversees about $1.2 trillion. “There has been massive spread tightening. We think this rally might continue for a while.”