That pales against the gyrations across all bond markets this week. Suddenly spooked by near-zero or even negative yields and a 50 percent rise in oil prices since January, investors have dumped German bonds in a manner not seen for decades.
The yield rose to a high of just under 80 basis points on Thursday from only five basis points in mid-April. Bund volatility soared to its highest since German reunification and bond prices were on course for the biggest fall since then.
The 10-year Treasury yield hit a five-month high above 2.30 percent, marking a rise of 50 basis points in only a month.