Euro-area government bonds slumped after the European Central Bank upgraded its forecasts for euro- area growth and President Mario Draghi signaled no further intention to push down borrowing interest rates.
Germany’s government bonds led declines among the euro region’s sovereign securities as a U.S. job report boosted speculation the Federal Reserve will bring forward a reduction in its asset-purchase program.
Decades of pension shortchanging and years of political gridlock were shoved aside in six minutes when Illinois lawmakers -- first the Senate, then the House -- approved a $160 billion rescue of the worst-funded state pension system in the U.S.
Portugal’s bonds rose, with five-year yields falling from the highest in four weeks, as the nation exchanged 6.6 billion euros ($9 billion) of short-maturity notes for longer-dated debt to ease its funding needs.
Germany’s inflation expectations rose from an 18-month low as a report showed consumer prices increased more in November than economists forecast, damping the case for further European Central Bank stimulus.