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."
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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...
