MPC minutes

The Bank of England (BoE) just released its Monetary Policy Minutes for May and the full document can be viewed here.

I wanted to highlight this development under the financial markets section:

" Yields on UK, US and German ten-year government debt had increased by between 30 and 45 basis points on the month. Despite the increase on the month, real yields on ten-year UK government bonds continued to be negative and both real and nominal yields remained unusually low. While yields on ten-year Greek government debt had fallen on the month, spreads between the government debt of other periphery economies and German government bonds had widened."

In the last financial crisis, the widening of the debt spreads was one of the symptoms that the economy was tanking.