The yield on JGBs falls to 0.815%, the lowest level since 2003. Folks of a certain age will remember that summer and remember the seeming impossibility of that level. We're not only back, but the rest of the world is headed there too. German 10-year Bunds, 1.43%, U.S. 10-years, 1.71%. At the short end, Germany has gone even further, its 2-years yielding 0.05% vs. Japan at 0.10%.