New all time highs for the German 10-year bond (“Bund”). The Bund is regarded as safe-have in the European bond markets universe and is the main interest-rate benchmark for the whole Eurozone area. Its 10-year yield is now down to 0,67%! The whole price region from 153,50 down to 153 offers strong support in case of a corrective pullback. A series of factors, such as dovish ECB rhetoric on interest rates, slow economic growth in the Eurozone area and the late retreat of major stock indices from their multi-year highs create buying pressure for the Bund.
German 10-year Bund, daily candlechart:
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