German bonds decline on Fed bets after Italian bonds climb

Germany's bunds declined, with 10-year notes falling for the first time in five days, on speculation the Federal Reserve Chairman Ben Bernanke will seek to minimize worries the central bank will scale back its stimulus. German 10-year bond yield climbed two basis points to 1.53% and the 1.5% note maturing in May 2023 dropped 0.145 to 99.725.