In the euro zone, after rising 11 basis points in three sessions to its highest since June 2020, Germany's 10-year Bund yield dipped 1 basis point on Wednesday.
The euro rose to its highest since 2018 above $1.23 in early January. It has eased since to around $1.208 currently, but is still up 8% since the start of 2020.
During a federal cabinet held under the chairmanship of Prime Minister Imran Khan it was decided to waive a number of taxes on these bonds under the Income Tax Ordinance 2001 Schedule.
Positive risk sentiment on the back of progress on US stimulus, where negotiators were closing in on a $900 billion COVID-19 aid bill, and hopes for a Brexit trade deal probably also hurt safe-haven bonds.