FXStreet (Mumbai) - The German 2-year Bund yield recovered from lows, but still trades 6 bps below the deposit rate of -0.30%. Yields recovered after the ECB cut deposit rate by 10 bps as expected. The 2-yr yield recovered from the record low of -0.452% to trade at -0.36%. Draghi, in his press conference, announced an extension of the EUR 60 billion QE program till end-March 2017. Overall, it appears the ECB failed to meet the market expectations, which is evident from the uptick in the German yields. For more information, read our latest forex news.