A ‘Thousand-Year’ Bund Rally Takes Hold: A Story Told in Charts
- Fixed-income surge comes as traders bet on interest-rate cuts
- Stock of negative-yielding debt hones in on $11 trillion
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The global bond market rally is continuing to break records as investors ratchet back their optimism on the economic outlook amid a cocktail of geopolitical risks.
While Treasury yields have plummeted to the lowest level since 2017, it is perhaps German debt that is shouldering the biggest burden. The yield on the nation’s 10-year securities has already dived below 0% and is close to its all-time low, spurred by investors seeking safety as global trade risks flare and Italy ramps up tensions with the European Union over its budget.