The yen surged and the euro jumped as Italian and Spanish bonds sank after European Central Bank President Mario Draghi said further stimulus measures will be left "on the shelf" as growth returns. U.S. stocks and Treasuries rose before jobs data tomorrow.
The yen rallied 2.1 percent to 97.06 per dollar and jumped as much as 3.2 percent, the most since 2011, while the 17-nation euro increased as much as 1.6 percent to a three-month high of $1.3306. Yields jumped more than 20 basis points on the 10-year debt of Italy, Spain and Portugal. The Standard & Poor's 500 Index rose 0.8 percent to 1,622.46, rebounding from a one-month low, while the Stoxx Europe 600 Index retreated 1.2 percent. Ten-year U.S. Treasury yields declined 1.5 basis points to 2.07 percent after rising as much as four points earlier.
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