Breaking: German bund yields break the 1% barrier

German bund yields have just broken above 1% - a psychological barrier
for the markets. Saxo's Simon Fasdal says yields in other European
bonds are also hitting year-to-date highs. At the same time the Euro
is strengthening.
Fasdal says it's clear QE isn't working and the ECB seems absent from
the market. At the very least he expects to see some verbal action
from the central bank. He says it's reaching a critical situation.