German 10-year bund yield hits new record low

LONDON: The yield on Germany's 10-year government bond fell on Wednesday to a new record low below 0.04 percent, according to Tradeweb data.

The yield, the benchmark for euro zone borrowing costs, fell as far as 0.035 percent, down 1.5 basis points on the day.

"We are a few basis points away from negative territory and given the Brexit vote later this month, that may give it a final push, it is quite likely we will over the next couple of weeks dip into negative territory," said Martin Van Vliet, senior rates strategist at ING.