German 10-year bonds declined, ending a four-day stretch of gains, as advances in stock markets reduced demand for the securities as a haven.

The yield on Europe’s benchmark securities fell below 0.1 percent for the first time since April 2015 on Tuesday, approaching record lows that were then followed by a selloff that pushed yields above 1 percent less than two months later. The Stoxx Europe 600 Index gained 0.2 percent on Wednesday, after sliding 1.9 percent on the previous day. U.S. Treasuries also declined before the U.S. Federal Reserve’s Open Markets Committee releases minutes of its latest meeting on Wednesday.

“It’s a bit of a retracement after the big moves we’ve seen” this week, said Lyn Graham-Taylor, a rates strategist at Rabobank International in London. “People are waiting for the FOMC minutes.”

Germany’s 10-year bund yield rose two basis points, or 0.02 percentage point, to 0.12 percent at 11:41 a.m. London time, after touching 0.081 percent on Tuesday. It reached a record low of 0.049 percent on April 17, 2015. The 0.5 percent bond maturing in February 2026 fell 0.22, or 2.20 euros per 1,000-euro ($1,135) face amount, to 103.72. The yield on U.S. 10-year Treasuries added two basis points to 1.74 percent.

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