Which supposedly “risk-free” asset has dropped 33 percent of its price in less than three weeks?

Can you guess which supposedly “risk-free” asset has dropped 33 percent of its price in less than three weeks? It’s not bitcoin, but the German bund. But what has driven this decline? It’s not just German bunds either – USD450 billion has been knocked off the price of bonds globally over that time. One explanation could be that is the return to bond markets acting as a barometer of the health of the economies from which they are issued. Ever since the Fed unleashed its many stages of quantitative easing, alongside the Bank of England and, more recently, the European Central Bank, bond markets have been heavily skewed by these largely price insensitive buyers of assets in the marketplace.