German 10-year breaks above 0 % after Draghi disappoints

  • Market was expecting an extension of the ECB QE programme beyond March 2017
  • The council decided against it, but still, they will likely have to extend it anyway at the next meeting
  • However, the delay still led to position covering in Bunds
  • The German 10 year yield broke above 0 % today after spending nearly 60 days below zero

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