Between Draghi's promises, Trump's threats, and the stock market's pressure on Powell, global bond yields are collapsing this morning.
Let's start with US Treasuries. 10Y yields have crashed to a 2.01% handle... (lowest since Nov 2016, Trump's election)
Completely decoupled from stocks...
10Y Bund yields have plunged to -32bps!! (a record low)
But it's global...
AUSTRIAN 10-YEAR BOND YIELD FALLS BELOW 0% FOR FIRST TIME
SWEDISH 10-YEAR BOND YIELD FALLS TO 0% FOR FIRST TIME
POLISH 10YR YIELD FALLS 10BPS, HITS LOWEST SINCE APRIL 2015 (lowest since April 2015)
Maybe bonds are on to something?
Record low global bond yields, near record high global stock prices, and macro is collapsing?
And then there's this!