10-Year German Bund Yield

Yield on 10-year German government bonds (Bunds). The Bund is the benchmark "risk-free rate" for the Eurozone — the European equivalent of the US 10-Year Treasury. The ECB's negative interest rate policy (2014-2022) pushed Bund yields below zero for years, a historically unprecedented event. The 2022 inflation shock drove the sharpest Bund selloff in 40 years: from -0.5% to +3.0% in 18 months, reshaping European pension portfolios overnight.