Publish date:

Jul 24, 2019

Currency Wars: Greek 10-Year Bond Yield Dips Below 2% as Bets on Rate Cuts Rise

For the first time ever, Greek 10-year bond yields dipped below 2%.

Author:

For the first time ever, Greek 10-year bond yields dipped below 2%.

Hooray!

For a brief time today, the yield on the Greek 10-year bond dipped below 2.0%.

US Bond Yields vs Europe

US: 2.05%
Greece: 2.01%
Italy: 1.50%
UK: 0.68%
Portugal: 0.43%
Spain: 0.36%
France: -0.11%
Germany: -0.37%
Switzerland: -0.67%

Figures from Trading Economics.

Humorous Comparison

Dysfunctional Europe

Negative Yields Coming?

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Global Currency Wars On

In case you missed the general idea, global currency wars (not so cleverly disguised as interest rate policy) are hugely underway.

And please note that the ECB is following Japan's model and it did not do Japan any good.

Is the US Supposed to Follow?

For discussion of the resultant bubbles, please see Fed's Asymmetric Bubble-Blowing Policy in Pictures.

Also note Shock and Awe Needed to Un-Invert the Yield Curve: Half-Point Cut Not Enough.

Mike "Mish" Shedlock

For the first time ever, German 10-year sovereign bonds dipped below zero. With that event, Germany joined Japan and Switzerland in the negative 10 club.

In a global comparison of 10-year government bonds, three countries have negative-yields and France is on the cusp.

Treasury yields continued a massive plunge today with new record lows. I sense a double rate cut by the Fed on March 18.

The yield curve is the flattest since 2007. Nonetheless, traders think it will get flatter. The bond bet du jour is the next Fed chair will keep hiking but not as much as the Fed thinks.

Bond yields resumed their post-FOMC crash today after a weak two-day respite. Inversions strengthened across the board.

The US Treasury 5-year yield is now inverted with 3, 2, and even the 1-year treasury yield.

For the third time, the yield on the 30-year long bond dipped below 2.0%. I asked Mr. Bond some questions.

Hello one-handle: In response to Trump's misguided Tariff tactics on Mexico, bond yields continue to crash.

Treasury yields are down again today, the 6th straight day of strengthening inversions. 30-year to FF inversion on deck.

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