German government bond yields hit their lowest level in almost three weeks yesterday and were set for their biggest weekly fall since late January against a backdrop of renewed concerns about global growth.

Having risen to almost 0.31 per cent just a week ago, yields on top-rated 10-year German bonds have halved, moving back within sight of one- year lows hit in April and leaving behind fears of a repeat of the brutal sell-off that took place a year ago.

Irish 10-year yields remain below 1 per cent, trading yesterday just over 0.9 per cent, slightly up on Thursday. Bund yields fell 2.5 basis point to 0.14 per cent, their lowest level in almost three weeks. Most other euro zone bond yields were one to three basis points lower, with peripheral bond markets on firmer ground after a sharp sell-off on Thursday. – (Reuters)