They recommend selling 10-year bonds following a 17 basis point decline in yields since the start of the year, their best performance over the period since 2020. Bunds are now the most expensive they’ve been relative to short-dated interest rates swaps since March 2025, according to Barclays’ analysis.
It is not for lack of trying. In some cases, microbiologists have ditched the Petri dish altogether, using microfluidics for manipulating and growing cells. However, these approaches aren’t likely to be adopted at scale as they require less common, less practical, and more expensive devices. So, what about other growth media?
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