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German Bunds Fall as ECB to Buy Covered Bonds, Restart 12-Month Bank Loans

October 6 2011, 09:30

FMX|Connect- WWW.FMXConnect.com (Reported on 10/6/2011)

German Bunds Fall as ECB to Buy Covered Bonds, Restart 12-Month Bank Loans

Source: Bloomberg

German 10-year government bonds fell, pushing yields up to the most this month, as European Central Bank President Jean-Claude Trichet outlined policy tools, including one-year loans for banks, to stem the debt crisis.

Italian and Spanish government bonds rose as European banking stocks advanced for a second day amid optimism regional policy makers will take additional steps to shore up the region’s lenders. Trichet told reporters in Berlin that the central bank will offer one-year loans to banks and that it will resume purchases of covered bonds from November. The European Central Bank kept its benchmark interest rate unchanged at 1.5 percent. To read the full article, click here.

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