Der Kommissar! Germany’s 10Y Bund Swap Spread Turns Negative, Investors Sour On Debt

Der Kommissar!

German 10-year bond yields are trading above euro interest rate swaps for the first time in history (-12.62), a watershed moment for these markets that underlines just how much investors have soured on government debt.

Bund yields +30bps today – the biggest spike on record going back to 1990.

Is the US next?