Yields Continue to Fall on Spanish Bonds

“Yields on Spanish bonds dropped to a six-week low on speculation leaders will agree on a plan to contain the debt crisis. European stocks erased gains and the euro retreated after Germany’s Bundesbank stepped up its criticism of the European Central Bank’s bond-buying program.

Spain’s 10-year yield declined 23 basis points to 6.22 percent at 7:28 a.m. in New York, the least since July 4, while similar-maturity Italian yields slid three basis points to 5.76 percent. The euro slipped 0.2 percent to $1.2305, after appreciating 0.2 percent. Ten-year Treasuries fell, extending a four-week decline. The Stoxx Europe 600 Index lost 0.1 percent after gaining as much as 0.3 percent. Standard & Poor’s 500 Index futures were little changed. Copper sank 1 percent and nickel slipped 1.3 percent.”

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