German bund yields are taking a cue from its US counterpart

After a break out in US yields earlier, we're seeing a similar story here in Europe.

German bund yields have hit its highest levels since December 2015, as the bond rout continues. US 10-year yields meanwhile have broken above 2.70%.

The surge in yields recently sees German 5-year bund yields close in on positive territory for the first time in almost three years.

Oh, scratch that, we just tipped above zero percent momentarily.