Spanish and Italian bonds fell. Spain’s Prime Minister Mariano Rajoy named a former Lehman Brothers Holdings Inc. banker and a budget professor as his finance chiefs, tasking them with overhauling an economy that risks being engulfed by the euro-region’s sovereign debt crisis. European Central Bank President Mario Draghi and Bank of England Governor Mervyn King are scheduled to hold a press conference in Frankfurt today.
“I see a high risk of the debt crisis getting worse again,” said Niels From, chief analyst at Nordea Bank AB in Copenhagen. “In general bund yields are going to stay low.”
The yield on the two-year note was little changed at 0.23 percent at 1:59 p.m. London time, after reaching a record 0.202 percent on Dec. 20. The 0.25 percent securities due December 2013 traded at 100.035. Ten-year yields were also little changed, at 1.94 percent.
German government bonds have returned 9 percent this year, according to indexes compiled by Bloomberg and the European Federation of Financial Analysts Societies. Spanish debt increased 5.5 percent, Italian securities lost 5.5 percent, while Greek bonds declined 63 percent, the indexes show. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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