DB German Bund Futures ETN(BUNL)- NYSEARCA
  • Today, 2:54 PM
    • A weekend German media report said the government has no intention of coming to the rescue of Deutsche Bank, sending that stock lower by more than 7% and the Dax by 2.2%. Of course, governments always say this ... usually not long before announcing a support package.
    • The U.S. major averages are lower by about 0.85%, and there's the added uncertainty of tonight's first presidential debate.
    • The 10-year U.S. Treasury yield is down by three basis points to 1.585% - roughly the lowest level this month - and traders are cutting bets on the odds of a December rate hike even as the Fed more or less last week promised us one.
    • TLT +0.4%, TBT -0.8%
    • Across the pond, the German 10-year Bund yield is down 3.3 basis points to negative 0.113% (perhaps the easiest "rescue" for DB would be positive rates).
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, BUNL, BUNT, LBND, GGOV, VUSTX, DLBL, TYBS
    | Today, 2:54 PM | 2 Comments
  • Sun, Sep. 18, 9:16 AM
    • Russians are heading to the polls to elect a new parliament, with 450 seats up for grabs that make up the Duma, the lower house of parliament.
    • Separately, Angela Merkel's Christian Democrat Union party is set for further losses in regional elections in Berlin, with the right-wing populist Alternative for Germany party expected to make gains.
    • Ahead of the voting, hundreds of thousands of Germans took to the streets in seven cities throughout the country, in protest of the TTIP and CETA trade deals.
    • ETFs: RSX, EWG, RUSL, RUSS, ERUS, RSXJ, DAX, GF, RBL, DXGE, DBGR, HEWG, EWGS, BUNL, BUNT, FGM, GGOV, QDEU
    | Sun, Sep. 18, 9:16 AM | 13 Comments
  • Fri, Sep. 16, 8:00 AM
    • The team has moved to underweight on bonds over the next three months, and expects the yield on the 10-year U.S. Treasury to hit 2% by year-end (currently 1.66%). Yields on 10-year German and Japanese paper are forecast to hit the towering levels of 0.3% and 0.1%, respectively.
    • Goldman: "The Goldilocks scenario from July and August, with anchored global rates and better-than-expected macro data, has faded. Moreover, since mid-August pressure on commodity prices has increased again."
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, JGBS, JGBD, VGLT, TLH, SBND, UBT, DLBS, TLO, BUNL, JGBL, BUNT, LBND, GGOV, JGBT, VUSTX, DLBL, TYBS, JGBB
    | Fri, Sep. 16, 8:00 AM | 5 Comments
  • Tue, Sep. 13, 2:10 PM
    • There's no flight-to-safety bid for Treasurys as equity markets tumble today. In fact, it's just the opposite, with the 10-year yield leaping by another seven basis points to 1.73%. TLT -1%, TBT +2%
    • The rout is global in nature, with the German 10-year Bund yielding all of 7.6 basis points after a 3.8 bp rise today. Even the 10-year JGB yield is threatening to go positive.
    • The move isn't necessarily about tighter Fed policy as short-term rate traders are pricing in very little chance of a rate hike next week. and only a 50% chance of a move by year-end.
    • U.S. stock indices are at session lows, with the Dow off 1.4%, the S&P 500 1.5%, and the Nasdaq 1.2%.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, JGBS, JGBD, VGLT, TLH, SBND, UBT, DLBS, TLO, BUNL, JGBL, BUNT, LBND, GGOV, JGBT, VUSTX, DLBL, TYBS, JGBB
    | Tue, Sep. 13, 2:10 PM | 54 Comments
  • Fri, Sep. 9, 10:43 AM
    | Fri, Sep. 9, 10:43 AM
  • Tue, Sep. 6, 3:17 AM
    • The ECB has passed the €1T mark for its controversial purchases of government bonds, putting pressure on policymakers to address the scarcity of available assets when they meet in Frankfurt this week.
    • Despite being well beyond the halfway point of the €1.7T program, inflation remains virtually non-existent.
    • The latest figure from Eurostat showed eurozone prices rising by 0.2% in the year to August - well below the central bank's inflation target of just under 2%.
    • ETFs: EUFN, BUNL, BUNT, GGOV
    | Tue, Sep. 6, 3:17 AM | 6 Comments
  • Mon, Sep. 5, 4:50 AM
    • Angela Merkel suffered a defeat in German regional elections on her home turf on Sunday as voters turned their backs on her liberal refugee policy and gave the anti-immigrant Alternative for Germany party a political triumph.
    • AfD pushed the chancellor's center-right Christian Democrats into third place in the vote in rural Mecklenburg-Vorpommern, with both coming behind the Social Democrats, the region's dominant political grouping.
    • The setback could weaken Merkel's chances of a fourth term in next year's federal elections. Her approval rating recently plunged to a five-year low of 45%, down from 67% a year ago.
    • ETFs: EWG, DAX, GF, DXGE, DBGR, HEWG, EWGS, BUNL, BUNT, FGM, GGOV, QDEU
    | Mon, Sep. 5, 4:50 AM
  • Thu, Aug. 25, 4:12 AM
    • The German Ifo Institute's business-climate index has dropped to 106.2 in August from 108.3 in July and missed consensus for a rise to 108.5.
    • The current-situation reading fell to 112.8 from 114.8 and undershot forecasts of 114.9, while the expectations print dropped to 100.1 from 102.1 and missed estimates of 102.5.
    • The DAX takes a plunge and is -1.13%, although the euro remains steady and is +0.1% at $1.1273.
    • CESifo Web site
    • ETFs: FXE, EUO, EWG, ERO, DAX, EUFN, GF, DRR, DXGE, DBGR, HEWG, ULE, EUFX, EWGS, BUNL, URR, BUNT, FGM, GGOV, QDEU
    | Thu, Aug. 25, 4:12 AM | 1 Comment
  • Wed, Aug. 24, 2:12 AM
    | Wed, Aug. 24, 2:12 AM
  • 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
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub