German bond yields dropped

Downgrade of credit ratings of more than a dozen Spanish banks carried out by Moody's boosted the demand of safest government debt in Europe. German 2, 5, 10 and 30 year bond yields descended to the lowest level in the history and continued bond price increase for the fifth consecutive day. 10 year bond yield was at 1,42% at 9 a.m. London time after dropping to 1.396%. Both, 2 year and 5 year note yields decreased to 0.031% and 0.463% respectively. 30 year bond yield decreased to all time low of 2.046%.