thats whats mind blowing why are they still rushing to buy these bonds when interest rates are almost nothing ??, it doesn't make sense. The money invested in bonds is increasing while interest rates are falling , this should not be happening !!. At the same time little new money is flowing into european stock markets they have been range bound since 2015.Now if you are a bond/hedge or pension fund manager would you lock up 4 billion of 10 year notes at 1.123 rate which is less than inflation
Normal financial theory says that when interest rates are falling money flows from bonds to stocks, in europe its almost the reverse now.