Bond market is still far away from last crisis level 7-Jun-2015

Since beginning of this month, Jun 2015, the bond price has gone down sharply, rising government bond yield. Media reacted to the market as if another crisis is coming.

[10 year government yield]

Considering the economic situation, such as potential collapse in financial aid for Greece where the leading party of government is rejecting proposals from other European countries, the debt market could be crashed once such crucial event is triggered.

[10 year government yield except Greece]

With in last two years, the government bond market has been hot in some major economic zones, including UK, US, Japan or Germany. Since the market trend was almost single direction, the yield going down, the trend reversal could be occurred in natural manner.

However, even the government yield has hiked recently, it is too early to see the market crisis. The  chart describes the yield of 10-year government bond. The most of them still stays around record low level of the last decade. Particularly in Greek, Spanish and Italian bonds, the yield is still far lower than those under the European debt crisis in 2011 - 2012.

(CNBC) Pay attention to the chaos in the bond market
(The Telegraph) Global bond market suffers from erratic swings amid liquidity drought

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