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Eurozone bond yields drop, Spanish 2-yr yield in negative

FXStreet (Mumbai) - Borrowing costs across the Eurozone dropped as the European Central Bank (ECB) boss Mario Draghi gave a hint that the bank could step up its efforts in December to battle deflation.

The interest rate on German 10-year bond yields fell to a four-month low of 0.496%. The 2-yr yield hit a record low in the negative territory. The yield on the Spanish 2-yr bonds also dropped below zero for the first time. It currently trades around -0.008%.

The German yields have improved slightly today, but remain closer to four-month lows. The spread between the US and German 10-yr bond yield spread now stands at 153 basis points compared to 143 basis points seen coupled of days ago.

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