Yields: Stocks vs. Bonds

Dividend yields on stocks are typically lower than the yields on bonds. This relationship reflects the added upside associated with stock prices. However, for only the second time in the past 40 years, the dividend yields exceeded bond yields. This relationship suggests that stocks are cheap RELATIVE to bonds. It doesn't necessarily mean that stock prices are cheap in absolute terms. See article here, AAII.

German Yields Below Zero

In an unusual event, German bond yields across the entire yield curve are below zero. So, the government could borrow for ten years (or more) and pay back less than the original principal. Typically this is a sign of a "flight to quality." See article here, Marginal Revolution.