LONDON, March 23 (Reuters) - German government bond yields extended earlier falls on Monday, tracking a move in U.S. Treasuries after the U.S. Federal Reserve stepped in with further aggressive moves to protect the economy in the face of the coronavirus outbreak.
The Fed, citing “tremendous hardship” caused by the coronavirus pandemic, said it would begin backstopping an unprecedented range of credit for households, small businesses and major employers.
German government bond yields extended their falls, with 10-year Bund yields last down 5 basis points on the day at -0.39%. Ten-year U.S. Treasury yields were last down 21 bps on the day at 0.73%.
Reporting by Dhara Ranasinghe; editing by Yoruk Bahceli