Bond: yields down, Bund drops to -10 bps

European bond yields fell today as markets are nervous about UBS’s takeover of Credit Suisse.

Germany’s benchmark 10-year bond yield fell just under 10 basis points, to 2.025%, as of 11:00 am. Yields on UK 2-year and 10-year bonds both fell by around 9 basis points, to 3.138% and 3.188%. The spread between BTp and Bund marks 195 points, after a start above 200 basis points.