Borrowing costs on German government debt continued to fall on Friday, with the interest rate on 10-year bunds hitting a new record low. In early European trading hours, the yield on the German benchmark bund traded at around 0.021%, falling below its previous record low of 0.027% set on Thursday, according to electronic trading platform Tradeweb. Meanwhile in the U.K. gilts also traded close to historically low yields, although the 10-year yield rose to 1.249% on Friday. The flush of money going into German and U.K. government bonds comes as investors are flocking into safer assets on concerns about low growth in the global economy and the upcoming U.K. Brexit referendum.
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