European bonds rise as Yellen signals continued stimulus

European government bonds advanced on Thursday as the next Federal Reserve chairman Janet Yellen signaled that the U.S. central bank may maintain its bond-purchasing program until the country's economy improves. Italy's benchmark 10-year yields slipped 2 basis points to 4.09% as of 10:39 a.m. in London, while German 10-year bunds yielded at 1.72% following a fall by 5 basis points.