All US$850bil of Germany’s bond market may soon yield nothing

London: The last glimmer of positive yields on German bonds is in danger of being snuffed out.

Thirty-year yields turning negative would be a first among major bond markets, with a global rally already having sent all of Germany’s out to 20 years below zero. It may only take a further deterioration in trade relations between the United States and China, a flare-up of political risk or more hints of stimulus from the European Central Bank (ECB) to turn the whole curve negative.