0947 GMT [Dow Jones] Traders deny ECB buying rumors, although
speculation that the central bank is buying bonds does seem to be
moving markets. Market makers say they've seen no evidence of ECB
intervention, apart from the "normal chatter" that surfaces when
peripheral yields ease. There's been "patchy buying" which has seen
Spanish yields fall after a t-bill auction was well covered, says one
market maker. "The moves are more to do with sellers backing off," the
trader adds. Another trader says there has been some buying of Spanish
10-year bonds, but no sign of ECB activity. Spanish 10-year yields are
down 12bps at 7.00%. (tommy.stubbington@dowjones.com)
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(END) Dow Jones Newswires
June 19, 2012 05:47 ET (09:47 GMT)
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