Spain bond yields hit record low
The yield on 10-year Spanish government bonds fell to record lows on Thursday after the European Central Bank announced it was setting out on a massive bond buying programme.
At 1400 GMT the rate of return to investors on benchmark Spanish 10-year bonds hit a record low of 1.450 percent, down from 1.530 percent the night before.
Meanwhile the yield on Italian 10-year bonds hit a record of 1.609 percent, down from 1.691 percent on Wednesday.
The news came after the ECB announced a €1.1 trillion ($1.3 trillion) bond buying programme.
The ECB announced that it will buy €60 billion of European debt every month from March 2015 until September 2016.
"The combined monthly purchases of public and private sector securities will amount to €60 billion" ECB head Mario Draghi told assembled journalists at a press conference in Frankfurt.
The bond-buying programme will continue "until we see a sustained adjustment in the path of inflation which is consistent with our aim of achieving inflation rates below, but close to, 2%", he added.
The Euro immediately dropped sharply against the US dollar on the news.
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At 1400 GMT the rate of return to investors on benchmark Spanish 10-year bonds hit a record low of 1.450 percent, down from 1.530 percent the night before.
Meanwhile the yield on Italian 10-year bonds hit a record of 1.609 percent, down from 1.691 percent on Wednesday.
The news came after the ECB announced a €1.1 trillion ($1.3 trillion) bond buying programme.
The ECB announced that it will buy €60 billion of European debt every month from March 2015 until September 2016.
"The combined monthly purchases of public and private sector securities will amount to €60 billion" ECB head Mario Draghi told assembled journalists at a press conference in Frankfurt.
The bond-buying programme will continue "until we see a sustained adjustment in the path of inflation which is consistent with our aim of achieving inflation rates below, but close to, 2%", he added.
The Euro immediately dropped sharply against the US dollar on the news.
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