Bond yields pushed to lowest levels in a year

A worldwide bond market surge pushed yields to the lowest levels in a year on growing evidence central banks can keep stimulating economic growth without igniting inflation.

The average yield to maturity on bonds from Greece, Ireland, Italy, Portugal and Spain fell to 2.13 percent early on Wednesday, matching the least since the formation of the currency bloc in 1999, according to Bank of America Merrill Lynch indexes.

Greece’s government securities returned 26 percent this year through Thursday and Portugal’s increased 15 percent, the best-performing sovereign debt markets tracked by Bloomberg World Bond Indexes.

[Bloomberg]