Historical yields of government bonds GTM –UK | 63 10-year bond yields % US 18 UK Fall of Berlin Wall Germany 1989 Black Friday Britain leaves Japan 1987 European Exchange Rate Mechanism 1992 12 Asian currency crisis 1997 Fed QE ECB QE Dot com bubble 2008 2015 US Feb 2000 election Fed QE2 2016 e 2010 m Oil shock 9/11 attacks BoE QE Brexit o 6 2001 2009 Fed QE3 vote c 1981 2016 n 2012 i d e x Fi 0 '80 '82 '84 '86 '88 '90 '92 '94 '96 '98 '00 '02 '04 '06 '08 '10 '12 '14 '16 Source: FactSet, Tullett Prebon, J.P. Morgan Asset Management. Guide to the Markets - UK. Data as of 31 December 2016. 63