German 10-year Bond Yield Jumps Above 1% For First Time Since Sept. 2014

The yield on 10-year German government bunds on Wednesday broke above 1% for the first time since September 2014 amid a broader selloff in European and U.S. bonds. Yields rise as prices fall. The German benchmark yield rose 6 basis points to 1.02%, according to electronic trading platform Tradeweb. The ascent for German yields started last week when European Central Bank President Mario Draghi said investors should get used to periods of higher bond-market volatility, saying the central bank won't do anything about it. For several European countries, bond yields dropped to record lows in the wake of the ECB's aggressive quantitative-easing program launched in March. 10-year German yields slid to as low as 0.05% in April.