How do peeps,

Was wondering if anyone would be able to explain the following gifs to me as it feels like the tectonic plates of finance are shifting;

1) EURO ZONE

The yield on Germany’s 10-year Bund fell below the ECB’s overnight deposit rate for the first time ever;
https://fingfx.thomsonreuters.com/gfx/mkt/12/2983/2958/ezcurve.gif

2) UNITED STATES

The 10-year Treasury yield falling below the upper bound of the Fed’s interest rate band for the first time in 11 years;
https://fingfx.thomsonreuters.com/gfx/mkt/12/2985/2960/us.gif

3) UNITED KINGDOM

The yield on the 10-year gilt falling below the Bank of England’s policy rate;

https://fingfx.thomsonreuters.com/gfx/mkt/12/2987/2962/UKcurve.gif

These have been sourced from a Reuters article called ’The Incredible Disappearing Bond Yields’. 

Appreciate any insight.

Best,

Terry