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Sweden said to lead global slide in long yields

Drastically falling 10-year government bond yields have been part of the turbulent financial scenery of the past week. Financial Times says Sweden headed the world race.

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Naturally, media’s focus in the last week has been on stock markets, slipping from high levels. OMX Nordic PI dropping 2.6 percent in a week, and Dow Jones down 3.4 percent, are examples.

But the interest-rate landscape could be just as interesting, as investors seeking shelter from business exposure turn to bonds with low risk. Several business news sites point to the fact that the 30-year US treasury bond is below 2 percent for the first time ever.

Record lows across the world

”Sweden leads the world below zero”, reads a headline in Financial Times. Thursday, lunchtime, Sweden’s government 10-year rate was at –0.37 percent, after crossing for its first time ever into negative territory only as recently as 24 July.

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The 10-year NOK bond, still safely in above-zero terrain, dropped from 1.29 to 1.04 percent in the week from 31 July to 7 August, and has essentially parked there. Germany’s equivalent has slid rapidly to a record –0.67 percent.

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