Global Bond Yields Hit Record Lows Amid Growth Worries

Government bond yields in Germany, the UK and Japan reached fresh lows on Friday, revealing just how worried investors are about the global picture. 'If you believe the bond market, it tells you the growth outlook is very, very poor indeed,' said Michael Ingram, a market strategist with BGC Partners, based in London, adding that central bank action is helping to keep short-term bond yields lower, but the levels don't exactly paint a picture of healthy growth. Yields for government bonds in Japan are in negative territory. Ingram questioned why the bond rally was occurring on Friday, when it should have occurred last Friday, following the dismal U.S. May jobs report. TheStreet's Scott Gamm reports from Wall Street.