Chart 3 10-Year Government Bond Yields for Major Countries  16  %  14 12 10  8 6 4 2 0 -2 CY 1981-85 1986-90 1991-95 1996-00 2001-05 2006-10 2011-15 2016-19 France  Germany  Japan  United Kingdom  United States  Note: Figures for Japan through 1988 are based on those of the Cabinet Office. Sources: OECD; Cabinet Office.
In addressing this topic we are seeking to determine the transmission mechanisms between the two regions and how vulnerable regional markets are to financial contagion from abroad. It would also be interesting to hear their views not only on asset portfolio diversification but on currency diversification – a trend we have observed – certainly among some central banks world-wide.