Bunds Are Crashing

After reaching a record low yield of -95.8bps at the end of last week, 2Y german bond yields are exploding higher.


The last 3 days - capped by today's spike - have seen a 13bps explosion - the most since Dec 2015 (and second biggest spike in four years).


Of course, we have seen these sudden squeezes numerous times but they have always ended with dramatically lower yields.