German and United States 10-year bond yields were slightly higher last week, as traders await more clues on future central bank action. German yields were last trading at 1.47 percent, while the U.S. 10-year yield rose 1.72 percent.
Against the German benchmark, yield spreads on PIIGS country bonds fell modestly. Portuguese, Italian, Irish, Greek and Spanish yield spreads were last trading at 8.44 percent, 4.37 percent, 4.57 percent, 23.04 percent and 5.27 percent, respectively.
The ECB did not purchase any sovereign bonds last week.