The Federal Reserve joined forces with the Bank of Canada, Bank of England, Bank of Japan, European Central Bank and SNB in a coordinated action to enhance the provision of liquidity through their standing U.S. dollar swap line arrangements.
German government bond yields hit their lowest since mid-December with the 10-year yield , the bloc’s benchmark, down 15 basis points to 1.97%, after reaching 1.951%. The spread between Italian and German 10-year yields was last at 201 bps. "Market perception depends on sentiment as much as on facts, being driven by balance sheet exposures, hedge coverage and real-time deposit (out)flows - which are by and large private information," said Michael Leister, head of interest rates strategy at Commerzbank. ($1 = 0.9256 Swiss francs) (Reporting by Stefano Rebaudo, Editing by Bernadette Baum)
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