German Yields Negative to 2021 as Investors Set for ECB Buying
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German government bonds advanced, pushing yields on securities due in as many six years further below zero, as investors prepared for the European Central Bank’s program of sovereign-debt purchases.
Anticipation of the 1.1 trillion-euro ($1.2 trillion) quantitative-easing plan, which is due to start on Monday, has already fueled a debt-market rally that sent yields across the euro region to record lows. The purchases, which are to include public and private debt, will be conducted in the secondary market by national central banks via existing counterparties.