Italian ten-year bonds fell for the first time in seven days as a report showed European services and manufacturing output shrank more than analysts estimated, underlining the fragility of the region\'s economy. Italy\'s two-year yields climbed by the most in three weeks as Greece\'s private creditors decide this week whether to sign off on the nation\'s debt restructuring. Spanish bonds fell amid concern about the quality of the collateral the European Central Bank has accepted in return for three-year loans to banks. German ten-year bond yields reached a six-week low after China cut its growth target, underpinning demand for safer assets. \"The factoring in of an increase in growth is yet to come in the European market and we need to clear up a lot of uncertainty first,\" said Peter Chatwell, a fixed-income strategist at Credit Agricole Corporate and Investment Bank in London. \"There are still other sources of uncertainty in the periphery and that\'s going to keep core markets well supported.\" Italy\'s ten-year yield climbed three basis points, or 0.03 percentage point, to 4.93 per cent at 10.50am in London. The 5 per cent bond due March 2022 dropped 0.2, or €2 euros per €1,000 face amount, to 100.99. Two-year yields rose two basis points to 1.77 per cent. From gulfnews