On Wednesday German government raised €2.4 billion via a Bund issue (10 yr) - coupon 0.25% - oversubscribed 2.5x.Nothing unusual…. except the issue yield to maturity was negative 0.05%. The issue is now trading at 103.20 to give a yield to maturity of minus 0.07%. Layer on inflation and you are looking at minus 1.7%. Institutional investors are paying the German government to hold their money…..this tells you a great deal about the climate of fear in the markets and risk / reward ratios. What we are looking at is an investment premium on capital protection, not investment return.
$62 whenever it happens - maybe maybe not, page-350
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Last
$149.79 |
Change
0.470(0.31%) |
Mkt cap ! $250.6B | |||
| Open | High | Low | Value | Volume |
| $149.30 | $150.35 | $148.86 | $301.3M | 2.014M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 450 | $149.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $149.80 | 350 | 2 |
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| Last trade - 16.10pm 11/11/2024 (20 minute delay) ? |
| CBA (ASX) Chart |