German benchmark bond yields turned positive for the first time since 2019, before the pandemic began, as markets prepared to pull back from central bank support.
The interest rate on the 10-year German bond rose by three basis points, to 0.008%, amid a climate of rising bond yields worldwide.
Even Germany’s debt, known for its low interest rates, is affected by the prospect of a tighter European Central Bank policy.
It’s a symbolic move for European investors, where below-zero interest rates have been a reality for many years.
The 10-year interest rate had gone into negative territory since the beginning of 2019 and reached its low of -0.91% at the height of the panic for the coronavirus, in March 2020.
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