Jefferies: What's Happening In The World Of Bonds?

What is going on in the world of bond yields? That’s the question posed by Jefferies’ Global Equity Strategy research team in a note sent to clients at the beginning of this week. Last week saw a number of records set in the global bond market. Gilts, JGB and bund yields touched record lows (at time of writing 10-year bund yields had dropped further, to below the key 0.00% threshold) and corporate credit prices across the investment-grade spectrum touched record 2016 highs. ECB to blame? The European Central Bank’s corporate bond buying programme is, to a certain extent, to blame…