10-year bund yields are at a record low of -0.58%
10-year yields are down by 4 bps on the day and it is one of the reasons why I'm a bit skeptical of the recovery seen in stocks today. Even US 10-year yields are down by 2.7 bps to 1.675% currently, near session lows.
If the European bond rally keeps this up, it looks like it's only a matter of time before we get to HSBC's year-end target of -0.80%.
