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German Bund Carnage Ends With Worst Day In 3 Years
10Y Bund yields exploded over 17bps today to top 71bps for the biggest absolute yield increase since August 2012. Initially triggered off hotter-than-expected EU inflation, one can't help but wonder if the magnitude and linearity of the move had an invisible hand helping it out "to make room for more ECB buying."
One can't help but wonder - just as we saw previously and was rumored across many trading desks - if the ECB is not enabling this decompression to give themselves some more room for buying...
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But what does it mean?! I'm not smart enough to extrapolate and shit.
It means that even the "stable" part of Europe (and the western world) is blowing up...
We blew up some bond traders.....
It means that some have decided the juice ain't worth the squeeze even if they got paid in deutch marks
What ZH is implying is that the ECB is moving the bund market to push institutions to sell bunds so that they can buy them. Because if the ECB can't hit their target for QE purchases, then they are not QEing, and more importantly can't QE because of structural market issues. And that would be bad given promises to QE.
It means the US stock indices have just ramped up...
DavidC
when will janet start the helicopter cash drop??? I want some more free stuff. Ask and demand more from your country and give nothing back...That is the Clinton way.
Germany deserves what's coming.......
How about US treasuries? They are getting the ever-loving shit kicked out of them.
Actually at the short end yields have rallied quite strongly.
With the Yen in total free fall why would i be buying German Bunds...let alone Chinese equities.
Obviously the cost of the Greek "bailout" is now coming due...looks to be enormous actually.
No way Greece wants the euro anymore in my view.
Germany looks like a train wreck as a consequence to me.
Out of curiosity, what are you referencing specifically by Greek bailout?
it's that time of the quarter when the big boys are rolling over futures contracts (and more importantly trillions in off-balance sheet derivative positions!) and doing whatever they please to make that turnover palatable. hence, yields move non-stop in the direction this(ese) players need them to move. on absolutely no news, to say the least.
As long as the sheep don't start cashing out of the casino, they'll just keep rolling the dice......
10 Year Bund at 0.71bps....wooooooh! That's horrendous!! Give me a break! Paying .71 for 10 years = terrible. Puuuuleeeeaaaase! Now if it shot up to 3 or 4 % where it ought to be then I might be shocked.
It was in single digits, just couple of weeks ago FFS. Not that I care. Burn the banksters, burn the politburos.
Fuck, finally. No more negative rate bullshit. We need a purge and a good cleanse. Who the fuck is still working for fiat in this financially fucked up world?
Faith is all but gone, fuckers!