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Takeaway: The German 10yr Bund yield went negative and hit new all-time lows at -0.0047% on global #GrowthSlowing fears.

Less Than Zero: German 10-Year Yields Go Negative (#GrowthSlowing Anyone?) - bond yields

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.

Less Than Zero: German 10-Year Yields Go Negative (#GrowthSlowing Anyone?) - german bund long term

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.

Less Than Zero: German 10-Year Yields Go Negative (#GrowthSlowing Anyone?) - bund 6 14

JAPANESE 10YR:

12/31/15: 0.260%

Today: -0.169%

Less Than Zero: German 10-Year Yields Go Negative (#GrowthSlowing Anyone?) - jpy 6 14

SWISS 10YR:

12/31/15: -0.091%

Today: -0.519%

Less Than Zero: German 10-Year Yields Go Negative (#GrowthSlowing Anyone?) - swiss 6 14

U.S. 10YR:

12/31/15: 2.270%

Today: 1.6053%

 

Less Than Zero: German 10-Year Yields Go Negative (#GrowthSlowing Anyone?) - ust 6 14