ECB’s QE driving Pfandbrief yields to record lows

The European Central Bank’s Quantitative Easing programme is pushing German Pfandbrief yields to new lows, illustrated by Deutsche Hypo’s heavily oversubscribed, 0.125% 2022 bond this week. German bond prices struck record highs this week after the ECB kept key interest rates on hold and reiterated its commitment to spend €60bn a month until September 2016. […]

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