World Economy

Spanish Bonds Advance

Spanish Bonds AdvanceSpanish Bonds Advance

Bond traders in Europe have run out of time to prepare for a referendum in Greece that may send prices surging or sliding when markets reopen after the weekend, Bloomberg reported. Spanish and Italian government securities gained on Friday, paring weekly declines, and German bonds also rose. A “yes” result is likely to spark a rally in bonds from Europe’s most-indebted nations and a selloff in its safest assets, while a “no” vote will mean the opposite, according to Commerzbank AG. The prospect of a significant reaction spells opportunity for some investors, while others may sit out the turmoil entirely.