DB German Bund Futures ETN (BUNL) - NYSEARCA
  • Wed, Jul. 13, 6:41 AM
    • Germany has sold 10-year Bunds with a zero percent coupon, issuing benchmark debt with a negative yield for the first time in history.
    • The €4.038B sale came with a yield of -0.05%, meaning that investors who hold the paper until maturity in August 2026 will receive back less money than they paid.
    • ETFs: BUNL, BUNT, GGOV
    | Wed, Jul. 13, 6:41 AM | 13 Comments
  • Thu, Jul. 7, 2:08 PM
    • With $13.4T in Treasury paper out there, the U.S. government bond market is the largest and most liquid one in the world. But at least one fund manager worries whether he'll be able to get his hands on any in some future bull move. "The scarcity factor is there but it really becomes palpable during periods of stress when yields immediately collapse,’’ says Christopher Sullivan. "You may be shut out of the bond market just when you need it the most.’’
    • Source: Min Zeng and Christopher Whittall in the WSJ
    • The Fed owns more than 20% of all Treasury debt outstanding, a near-double since before the financial crisis.
    • Meantime in the U.K., the BoE owns about 25% of that country's debt; the BOJ more than 33% of Japan's paper; the ECB about 15% of Germany's bonds.
    • Toss out paper with negative yields (20-year JGBs just went below zero), and there's not a lot of high-grade, positive-yielding paper out there. Those feeling the pinch the most are pension funds and life insurance firms. For this reason, money manager Nigel Jenkins expects any rise in bond yields to be quickly met with a wave of buying from the yield-starved institutions.
    • ETFs: IEF, PST, JGBS, JGBD, IEI, TYO, UST, PLW, DTYS, VGIT, GOVT, BUNL, TBX, SCHR, FTT, ITE, JGBL, GSY, BUNT, TYD, DTYL, GGOV, EGF, JGBT, DFVL, JGBB, TAPR, TBZ, DFVS, TYNS
    | Thu, Jul. 7, 2:08 PM | 1 Comment
  • Thu, Jun. 30, 1:34 PM
    • The trouble with the ECB's QE, apparently, is that the bank is running out of debt to buy.
    • Current rules require the ECB to allocate purchases based on the size of a country's economy (meaning German debt is favored, relative to others). The bank is thus considering changing that to one more in line with a country's outstanding debt (which would allow greater buys of peripheral paper).
    • The Bundesbank may not like it, but the ECB's hand may be forced by the Brexit.
    • For now, all German debt out to 15 years is yielding less than zero.
    • ETFs: BUNL, BUNT, GGOV
    | Thu, Jun. 30, 1:34 PM
  • Tue, Jun. 14, 3:40 AM
    • The rally for sovereign debt has passed an important milestone, with the yield on Germany's benchmark 10-year bonds hitting zero for the first time and briefly entering negative territory.
    • The strong demand is standing out in cautious trade ahead of a series of policy meetings at major central banks and rising uncertainty over whether the U.K. will stay in the EU.
    • ETFs: BUNL, BUNT, GGOV
    | Tue, Jun. 14, 3:40 AM | 18 Comments
  • Wed, Jun. 8, 8:31 AM
    • The ECB today began adding corporate bonds to list of items it will monetize with freshly printed euros as the supply of eligible government paper runs out.
    • The yield on Germany's 10-year Bund is currently at 0.06%, but earlier in the session had fallen to a record low of 0.03%. The previous record low was 0.048%.
    • The U.K. 10-year Gilt yield is at 1.276%, but earlier touched 1.256%, also a record. Britain yesterday auctioned off 30-year paper with a yield of 2.095% - the lowest level ever for that maturity, and down from 2.345% two months ago.
    • Switzerland announces a sale of 13-year paper with a 0% coupon. Enjoy your day.
    • ETFs: BUNL, BUNT, GGOV
    | Wed, Jun. 8, 8:31 AM | 4 Comments
  • Fri, Jun. 3, 11:34 AM
    • Yields on the German government bond curve are negative all the way out to nine years, with the yield on the 10-year Bund down five basis points today to 0.07%.
    • At work was May's weak employment report in the U.S., and the idea of a Brexit becoming more likely has EU periphery spreads on the rise, with the Italian-German differential up five bps to 1.26%, and the Spanish-German spread up five to 1.39%.
    • ETFs: BUNL, BUNT, GGOV
    | Fri, Jun. 3, 11:34 AM
  • Mon, May 30, 7:05 AM
    • The European Central Bank's responsibility for the entire eurozone means the institution is not implementing the best monetary policy for Germany, declared German Finance Minister Wolfgang Schaeuble.
    • He also said that all institutions, including the ECB, needed to be open to being debated publicly, and believed the Britain would make a "reasonable" decision in a June 23 referendum on whether the country should leave the EU.
    • ETFs: EWG, DAX, GF, DXGE, DBGR, HEWG, EWGS, FGM, QDEU, BUNL, BUNT, GGOV
    | Mon, May 30, 7:05 AM
  • Thu, Apr. 28, 5:12 AM
    • As expected, Germany's unemployment rate remained unchanged at an all-time low of 6.2% in April.
    • The number of unemployed people declined for the seventh consecutive month with a drop of 16,000 on month, topping forecasts for a gain of 4,000.
    • The euro is +0.3% at $1.1353, although the DAX is -1.3%.
    • ETFs: EWG, DAX, GF, DXGE, DBGR, HEWG, EWGS, BUNL, BUNT, FGM, GGOV, QDEU
    | Thu, Apr. 28, 5:12 AM
  • Wed, Apr. 27, 3:26 AM
    • Germany's Gfk consumer confidence index rose to 9.7 heading into May from 9.4 a month earlier and topped expectations that were also 9.4.
    • "Growth is being observed for both economic and income expectations as well as propensity to buy," GFK says.
    • "Consumers are clearly assuming that the German economy will regain some momentum in the coming months," GFK adds. "Income expectation and propensity to buy have both made noticeable gains, once again improving their already very good level.
    • The euro rises nicely vs the dollar and is +0.3% at $1.1326, although the DAX is flat. (PR)
    • ETFs: EWG, DAX, GF, DXGE, DBGR, HEWG, EWGS, BUNL, BUNT, FGM, GGOV, QDEU
    | Wed, Apr. 27, 3:26 AM
  • Mon, Apr. 25, 4:13 AM
    • The German Ifo institute's business-climate index has slipped to 106.6 in April from 106.7 in March and missed consensus of 107.
    • The current-situation reading fell to 113.2 from 113.8 and undershot forecasts that were also 113.8, and while the expectations print edged up to 100.4 from 100 it missed estimates of 100.8.
    • The euro is +0.3% at $1.1256, while the DAX is -0.9%.
    • CESifo Web site
    • ETFs: EWG, DAX, GF, DXGE, DBGR, HEWG, EWGS, BUNL, BUNT, FGM, GGOV, QDEU
    | Mon, Apr. 25, 4:13 AM | 1 Comment
  • Mon, Apr. 11, 12:24 PM
    • Yields a few years out on the curve have been negative for some time, but the average government bond yield in Germany - known as Umlaufrendite - has today dipped below zero for the first time ever.
    • The 10-year Bund yield is higher by 1 basis point this session to 0.113%, and the Dax (NYSEARCA:EWG) is ahead 0.65%.
    • German bond ETFs: BUNL, BUNT, GGOV
    | Mon, Apr. 11, 12:24 PM
  • Thu, Mar. 3, 12:51 PM
    • Amid expectations of boosted QE and a further cut in rates from the ECB coming next week, the German two-year yield dropped to negative 0.578% today - a new record low. The yield on the 10-year Bund dropped all the way to 0.169%.
    • Kudos to Marketwatch, whose Markets center didn't blow up this week when the Japanese 10-year JGB yield fell into negative territory (and stayed there). Minus signs in front of 10-year government bond yields were surely not something contemplated by the designers of that capsule!
    • ETFs: BUNL, BUNT, GGOV
    | Thu, Mar. 3, 12:51 PM
  • Oct. 1, 2015, 4:06 AM
    • German manufacturing PMI slipped to 52.3 in September from 53.3 in August, although the sector still enjoyed its best quarter for over a year.
    • Businesses maintained solid output and new-order growth, Markit says, while they also lowered prices as input costs fell further, although employment rose at weaker rate.
    • "The combination of rising backlogs and increased new orders suggests that companies will continue to scale up production levels, at least in the short term," Markit says.
    • The DAX is +1.1%. (PR)
    • ETFs: EWG, GF, DAX, DXGE, HEWG, DBGR, EWGS, BUNL, BUNT, GGOV, FGM, QDEU
    | Oct. 1, 2015, 4:06 AM
  • Sep. 30, 2015, 4:03 AM
    • German unemployment has held steady at 6.4% in September, as expected.
    • The number of unemployed increased by 2,000 after falling 6,000 in August and vs consensus of -5,000.
    • Earlier, retail sales data disappointed.
    • German Statistics Office Web site
    • The DAX is +1.7% and the euro is -0.2% at $1.1230.
    • ETFs: EWG, GF, DAX, DXGE, HEWG, DBGR, EWGS, BUNL, BUNT, GGOV, FGM, QDEU
    | Sep. 30, 2015, 4:03 AM
  • Sep. 30, 2015, 3:12 AM
    • German retail sales slumped 0.4% on month in August after growing 1.6% in July and came in well below consensus of growth of 0.2%.
    • On year, sales growth slowed to 2.5% from 3.8% and undershot expectations of +3.1%. (PR)
    • The euro is -0.3% at $1.1214, although the DAX seems to be ignoring the poor figures and is +2.2%.
    • ETFs: EWG, GF, DAX, DXGE, HEWG, DBGR, EWGS, BUNL, BUNT, GGOV, FGM, QDEU
    | Sep. 30, 2015, 3:12 AM
  • Sep. 18, 2015, 3:41 AM
    • Government bond yields across the globe are in party mode after the U.S. Federal Reserve kept interest rates unchanged in a nod to concerns about a weak global economy.
    • The German 10-year yield - the eurozone benchmark - is down 8 bps to 0.69%, mirroring a similar move in U.S. Treasuries overnight.
    • Equivalents in France, Spain, Italy and the U.K. fell even further, dropping 9-11 basis points, following Asian yields lower.
    • ETFs: FAX, GIM, EU, BNDX, JGBS, JGBD, DSUM, BWX, AUNZ, ALD, IGOV, BUNL, JGBL, CBON, GGOV, BUNT, JGBT, JGBB, CHNB
    | Sep. 18, 2015, 3:41 AM | 6 Comments
BUNL Description
The DB German Bund Futures ETN tracks an index of long positions in futures on German government debt with remaining maturity between 8.5 and 10.5 years.
See more details on sponsor's website
Country: Germany
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