Multi-century lows
Some wild goings on with yields around the world.
After bouncing at the back end of last week, the US 5-year Treasury yield resumed its downward trend today, to drop an all-time low of 0.2 per cent:
Source: Bloomberg, ForexLive
US 10-year government yields are threatening to plumb multi-century lows:
Source: Jeroen Blokland, The Twitter
With real yields sinking deep into negative territory:
Source: Bloomberg, FT
Over in the UK the 10-year gilt fell to a fresh all-time record low of 0.067 per cent.
You can make your own assessment of what this means about the state of the global recovery, but I'd hazard it's not good!
---
US house prices have been very buoyant, up +4.9 per cent over the year to June according to CoreLogic's latest update, with low mortgage rates allowing more homebuyers to climb aboard the property ladder.
Home ownership rates appeared to soar in the latest US Census Bureau figures, but most likely there are data collection challenges, so those particular numbers should be taken with a healthy degree of scepticism.
