If that's the case then why is the 10-year yield of U.S. treasury bond 1.75% while the yield of Spain's 10-year government bond is 1.69%?
Is it all because the ECB is lowering rates and the Federal Reserve threatening to raise them even more?
Or is it even remotely possible that the U.S. is no longer the cleanest shirt in a pile of dirty laundry?
Read the article 'Are Germany's Bonds Now The Risk-Free Rate?' here.