Global negative yielding debt has stood at USD 16 trillion in Aug-21 marginally down from USD 16.3 Tn in Jul-21 (-2.2% MoM).

Insight: Global negative yielding debt has reversed from its Feb-21 lows of USD 12.7 tn approaching Dec-21 record level of USD 17.8 tn. Germany's 10-year yield is at -0.42%, France 10 year bond yield stood at -0.07%, Japan's sovereign yield fell to a 12-month low of 0.016%. Over all, yields have dropped across Advanced Economies. Despite optimism and visible signs in global economic recovery, the rising COVID-19 cases in US and Europe, and growing concerns over Delta Variant are driving investors into defensive positions.

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