Germany sold €4.107 billion in 10-year bunds today for their lowest yields ever, reflecting a deepening risk-off attitude.
Those bonds sold for an average yield of 1.47 per cent versus the 1.77 per cent bonds sold on April 11 returned. In the secondary market, bunds are yielding 1.46 per cent, down one basis point on the day.
Meanwhile, peripheral bond yields remain elevated, with Spanish 10-year bonds yielding over 6.3 per cent.
A look at the market for bunds in the last six months: