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.
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On Wednesday German government raised €2.4 billion via a Bund...
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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. |
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$128.56 | 2194 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 500 | 128.300 |
1 | 4 | 128.200 |
1 | 100 | 128.020 |
2 | 2368 | 127.990 |
1 | 2194 | 127.910 |
Price($) | Vol. | No. |
---|---|---|
128.560 | 2194 | 1 |
128.580 | 100 | 1 |
128.600 | 2445 | 4 |
128.640 | 2194 | 1 |
128.650 | 254 | 2 |
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