European bond yields just keep on falling - the Portuguese is perhaps the most dramatic: its 10-year has fallen from 18% to 3.5% in just over 2 years

European bond yields just keep on falling - the Portuguese is perhaps the most dramatic: its 10-year has fallen from 18% to 3.5% in just over 2 years. (VIEW LINK). It's not just Portugal by any means. This from the business insider: Not long ago, Italy was one of a handful of so-called PIIGS countries, peripheral European countries that investors were avoiding like the plague. Others in this category included Greece, Ireland, Spain, and Portugal. And even France made investors nervous. These countries had (and continue to have) high levels of government debt, and generally mediocre economies overall. The fear was that the countries wouldn't be able to service their debt, and that they would possibly default and revert to their old currencies, leaving bond investors in the lurch. But now look, Italian government bond yields are at their lowest levels in history: (VIEW LINK)