• US: US 10yr treasury yields slightly extended a multi-day decline to 2.10% but the 2yr yield bounced off 0.67% to 0.71%, flattening the curve by 3bp. A 10yr auction went well, with foreign investors again notable (up to 59% of the winning bids).
  
  
• EU: German 10yr bund yields fell further, from 0.24% to 0.19% - a multi-decade low. The spread between US and German 10yr rates reached a 26 year high at 194bp.
  
  
• AU: Australian 3yr government bond future yields initially fell from 1.88% to 1.85% and then consolidated. The 10yr yield similarly fell from 2.55% to 2.51% before ranging, and is net unchanged.