The global bond market sell-off continued in November, pushing many European benchmark bond yields closer to positive territory. At month end, nearly 53.1% of European government bonds closed with a negative yield, down from 57.6% in October and 63.1% in September.
The largest mover was the Italian 10-year note, whose mid-yield surged 30 basis points to end November at 1.23%. Italy's Finance and Economy Minister Roberto Gualtieri predicted that fourth-quarter economic growth would be slightly positive, and that a 0.6% rise for 2020 was "widely reachable."
Greece's 10-year government bond yield saw the second-largest shift.