August 27, 2014 / 8:30 AM / 3 years ago

German bond yields hit new record low as ECB stimulus hopes rise

1 Min Read

LONDON, Aug 27 (Reuters) - German 10-year bond yields hit a new record low on Wednesday, as further evidence of the bloc's faltering economy fed market expectations for more European Central Bank stimulus.

10-year yields dipped 2.6 basis points to 0.921 percent, passing the previous record of 0.926 percent hit on Monday.

Traders said the move was driven by investors' anticipation of a broad-based asset purchase programme, known in market jargon as quantitative easing, after ECB president Mario Draghi hinted that other policy tools could be utilised at a speech at an annual meeting of central bankers last week.

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