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German Bund Yields Below Japanese Bonds For First Time Ever As BoJ Loses Control

Well that escalated quickly... while the trend of Bund yield collapse continues, the biggest driver of this unprecedented shift. For the first time ever, German 10Y bund yields are trading below (3bps below) Japanese 10Y bond yields as since Q€ the spread has collapsed 35bps. A very weak JGB auction overnight suggests the BoJ is losing control of the world's biggest bond market...

 

 

Accelerating since Q€...

 

Charts: Bloomberg