June 5, 2019 / 6:31 AM / 4 months ago

German 10-yr Bund yield hits new record low as U.S. rate cut bets swell

LONDON, June 5 (Reuters) - Germany’s 10-year government bond yield hit a new record low on Wednesday after the U.S. Federal Reserve Chair Jerome Powell said the world’s top central bank will respond “as appropriate” to the risks posed by a global trade war.

The remarks seemed to open the door to the possibility of a rate cut, and major government bond yields dropped as a result. In the euro zone, benchmark German 10-year bond yields dropped nearly two basis points to -0.225%.

Most other euro zone bond yields were lower 1-2 basis points as well. (Reporting by Abhinav Ramnarayan; Editing by Tom Arnold)

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