Market Open Ramp Ends With A Whimper As Bund Yields Suddenly Spike

Having tested down to Payrolls levels once again, German Bund yields have spiked back quickly to the highs of the day (from under 60bps to 70bps). This has sparked selling across most asset classes with US and European stocks waning quickly. Trannies are in trouble have tumbled post-open and are now -1.7% from payrolls.

Bunds are crashing again...

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With 4Y back into positive yield territory...

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Sending DAX dumping...

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With US Trannies the worst...

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Charts: Bloomberg