In April 2015, as Bund yields crashed towards zero, bond gurus Bill Gross and Jeff Gundlach went public with their “short of a lifetime” positions which spiked german rates drastically higher. Since the peak of that bounce in May 2015, bund yields have accelerated lower and today crashed back towards those record lows at just 6.5bps (for 10Y!). The entire bund yield curve is now below zero out to over 9 years, which as we noted earlier, leaves more than $10 trillion of global bonds now negative-yielding.
Bund yields are crashing again after today’s payrolls puke… back near “short of a lifetime” levels?
Pushing every German sovereign bond shorter-dated than 9.5 years into negative-yield…
Japan is now negative out to 14 years also. Need any other reasons to buy longer-dated Treasuries?
Charts: Bloomberg
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