The NIRP Effect: How Central Planners Are Pancaking Global Bond Yields

Takeaway: A look at the pancaking of yield curves around the globe.

The NIRP Effect: How Central Planners Are Pancaking Global Bond Yields - bond yields

 

Below are sovereign bond yields for select countries with negative interest rate policies. The graphs show the yield curves for those sovereign bonds today (green line) versus where they were last year (yellow line).  

 

German 10yr:

 

6/9/15: 0.949% 

Today: 0.037%

 

Click images to enlarge.

The NIRP Effect: How Central Planners Are Pancaking Global Bond Yields - german yield curve

 

Japanese 10yr:

 

6/9/15: 0.448%

Today: -0.131%

 

The NIRP Effect: How Central Planners Are Pancaking Global Bond Yields - japan yield curve

 

Swiss 10yr:

 

6/9/15: 0.211%

Today: -0.48%

 

The NIRP Effect: How Central Planners Are Pancaking Global Bond Yields - switzerland yield curve

 

How This Whole thing Shakes Out is anyone's guess.