Strong comments from Villeroy
The comments from Villeroy are reverberating through global bond markets. You can see here how Italian 10-year BTP yields are quickly moving lower and now down 9 bps on the day to 0.667%.
It's spread globally as well (to some extent) with US 10s now up just 0.5 bps to 1.41%.
Of course, we continue to await the signal from the Fed.