This comes amid broader sentiment of rising yields, largely led by the surge higher in Treasury yields to start the year.
In turn, this has also seen money markets start to price in a quicker rate hike move by the ECB. As things stand, a 10 bps rate hike is priced in for September 2022 right now. That doesn't really fit with what the ECB is going to do, in my view at least.
But for now, bund yields can enjoy keeping out of negative territory. It has been a while and eventually, it will come back.
