January 23, 2020 / 9:21 AM / a month ago

Swiss bond yields fall as SNB governor says negative yields "a necessity"

LONDON, Jan 23 (Reuters) - Switzerland's government bond yields tumbled on Thursday to their lowest levels since October after Swiss National Bank Chairman Thomas Jordan said negative rates were a necessity for the country and rates could be cut futher if needed.

Speaking at the World Economic Forum in Davos, Jordan said recent policy tweaks were aimed at allowing the measure to be maintained or even cut deeper.

The Swiss 10-year bond yield fell to as low as -0.69% , down six basis points on the day.

Bond yields across the euro area extended their falls, with Germany's Bund yield down 2.5 bps at -0.28%.

The Swiss franc briefly strengthened to a new 33-month high against the euro, although the move was minimal. It stood at 1.0729 francs per euro, up marginally on the day. (Reporting by Dhara Ranasinghe; editing by Sujata Rao)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below