January 2, 2017 / 10:32 AM / a year ago

Southern European bond yields hit multi-week lows

LONDON, Jan 2 (Reuters) - Borrowing costs in Italy and Portugal fell to multi-week lows on Monday after strong data and a rally in equity markets boosted appetite for lower-rated euro zone bond markets.

Portugal’s 10-year government bond yield fell 9 basis points to its lowest for almost four weeks at 3.71 percent , while Italy’s 10-year government bond yield fell to an eight-week low of 1.75 percent.

Manufacturers in the euro zone started 2017 on a solid footing, after ramping up activity at the fastest pace for more than five years in December, a survey showed on Monday. (Reporting by Dhara Ranasinghe; Editing by Louise Ireland)

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