Big news in bond markets today.
The 10yr German Bund yield went negative, hitting an all-time low, as investors flocked to sovereign bonds on global #GrowthSlowing fears. Take a look at the long-term chart of the yield on the German 10yr over the last 26 years.
A truly amazing rally.
The graphs below show the yield curves for select sovereign bonds today (green line) versus where they were at the beginning of the year (yellow line). As you can see, there's been a massive rally in long bonds around the world.
GERMAN 10YR:
12/31/15: 0.627%
Today: -0.0047%
Click images to enlarge.
JAPANESE 10YR:
12/31/15: 0.260%
Today: -0.169%
SWISS 10YR:
12/31/15: -0.091%
Today: -0.519%
U.S. 10YR:
12/31/15: 2.270%
Today: 1.6053%
