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
$128.54 |
Change
-0.150(0.12%) |
Mkt cap ! $215.1B | |||
| Open | High | Low | Value | Volume |
| $128.00 | $128.54 | $127.26 | $159.7M | 1.246M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1583 | $128.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $128.56 | 2194 | 1 |
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| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| CBA (ASX) Chart |