DB German Bund Futures ETN(BUNL)- NYSEARCA
  • Jun. 11, 2015, 5:03 AM
    • German bunds fell again today, extending a sell-off that has pushed 10-year yields above 1% for the first time since September.
    • The 10-year yield on German bunds edged higher to 1.02%, up sharply from the all-time low of 0.05% hit in April.
    • U.S. 10-year yield +1 bps to 2.49%.
    • ETFs: BUNL, BUNT, GGOV
    | Jun. 11, 2015, 5:03 AM
  • Jun. 10, 2015, 4:39 AM
    • The yield on 10-year German government bunds broke above 1% overnight for the first time since September 2014 amid a broader global bond selloff that's been deepening since late April. The U.S. 10-year yield jumped 6 bps to 2.48%.
    • The renewed ascent for German yields started last week when ECB President Mario Draghi said investors should get used to periods of higher bond market volatility and stated the central bank wouldn't do anything about it.
    • ETFs: GIM, EU, BNDX, BWX, IGOV, BUNL, BUNT, GGOV
    | Jun. 10, 2015, 4:39 AM
  • Jun. 9, 2015, 10:03 AM
    • The government bond rout took a breather on Monday, but is back in business today, led by an eight basis point gain in the German 10-year Bund yield to 0.96%. The 10-year U.S. Treasury yield is up six basis points to a new 2015-high of 2.44%. The next stop on the charts could be the 52-week high of 2.70% hit roughly one year ago.
    • TLT -1.1%, but corporate bonds are faring better, with LQD -0.5%, and HYG -0.15%.
    • The Barclays Aggregate Bond Fund (AGG -0.3%) and the Vanguard Total Bond Market ETF (BND -0.3%).
    • ETFs: PLW, GOVT, BUNL, FTT, EGF, BUNT, GGOV, TAPR
    | Jun. 9, 2015, 10:03 AM | 7 Comments
  • Jun. 4, 2015, 3:23 AM
    • Bond yields across global markets continued their sell-off into Thursday as a six-week-long bond rout rumbled on.
    • Yesterday, ECB President Mario Draghi said asset prices tend to be more volatile in a low interest rate environment and policymakers were prepared to look through the sharp rise in yields.
    • With the ECB seeing no reason to adjust its stance on monetary policy, German 10-year Bund yields rose to fresh 2015 highs today at 0.95% (up from near zero in mid-April). U.S. 10-year yield +1 to 2.38%.
    • European stocks: FTSE 100 -1.3%; DAX -1.6%; CAC 40 -1.9%; Euro Stoxx 50 -1.6%
    • ETFs: GIM, EU, BNDX, BWX, IGOV, BUNL, BUNT, GGOV
    | Jun. 4, 2015, 3:23 AM | 2 Comments
  • Jun. 3, 2015, 3:07 PM
    • A hot hand at least on his Twitter feed, Bill Gross updates on his German Bund short of a lifetime: "It's happening," he says.
    • Up another 17 basis points today, the German 10-year Bund yield is at 0.89% vs. 0.07% just six weeks ago (around the time Gross made his call).
    • Next up (but not just yet), says Gross, is China's Shenzhen Index which has about tripled over the past year, the result of a combination of a previous bear market, monetary ease, and Beijing's encouraging both domestic and international punters to invest.
    • ETFs: FXI, ASHR, CAF, YINN, KWEB, PGJ, GXC, FXP, YANG, CHN, PEK, CQQQ, MCHI, TDF, QQQC, XPP, YAO, GCH, ASHS, YXI, CN, CHXF, FCA, CNXT, CHNA, BUNL, KBA, JFC, GGOV, BUNT, AFTY, CHAU
    | Jun. 3, 2015, 3:07 PM | 23 Comments
  • Jun. 2, 2015, 12:52 PM
    • A rise in core European inflation to 0.9% in May from 0.7% a month earlier has set off a 2.5% rally in the euro (NYSEARCA:FXE) and soaring bond yields across the Continent.
    • The German 10-year Bund yield is up 18 basis points to 0.72%, the Italian 10-year is up 17 bps to 2.12%, and the Spanish 10-year is up 14 bps to 2.05%. In the U.K., 10-year Gilts are higher by 13 bps to 2.00%.
    • The action has set off a big move in the 10-year U.S. Treasury yield, up eight bps on the session to 2.26%. TLT -1.45%, TBT +2.9%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, EU, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, BUNL, TENZ, LBND, BUNT, GGOV, DLBL, TYBS, VUSTX
    | Jun. 2, 2015, 12:52 PM
  • May 22, 2015, 4:46 AM
    • The Ifo measure of German business confidence weakened for the first time in seven months in May, albeit only slightly, another sign that growth in Europe's largest economy is losing momentum.
    • The Ifo business climate index slipped to 108.5 from 108.6 in April, its first drop since October 2014, but still rested above forecasts for a 108.3 print.
    • Germany’s economy is still set to outperform that of the euro area, with unemployment at record lows, lower borrowing costs, and exporters gaining from the ECB's asset-purchase program.
    • DAX -0.1% to 11,853.
    • ETFs: EWG, BUND, EWGS, DBGR, GERJ, DXGE, BUNL, FGM, BUNT, GGOV, HEWG
    | May 22, 2015, 4:46 AM | 1 Comment
  • May 21, 2015, 12:33 PM
    • The big move in German 10-year Bund yields - from single digits to 0.64% over the past month or so - has Citigroup abandoning its call for the yield to slip below zero this year.
    • Ciit's exit leaves just RBS as the only major house still expecting negative yields. "If inflation doesn't change, the likelihood is that there will be an extension, or if not an acceleration, of quantitative easing, and that would have a large impact on core fixed income," says RBS's Marco Brancolini. "Compared to the base line that most other market watchers have, we expect inflation to remain very soft and any pick up in growth to be relatively mild."
    • ETFs: BUNL, BUNT, GGOV
    | May 21, 2015, 12:33 PM
  • May 13, 2015, 4:22 AM
    • Global bond yields will start to stabilize despite a selloff that has sent yields soaring in recent sessions, Pimco chief investment officer Scott Mather told CNBC in a Closing Bell interview.
    • Yesterday, the benchmark U.S. 10-year Treasury note yield hit a six-month high of 2.36% before reversing, while sovereign yields across Europe broadly moved higher.
    • Despite those moves, the bond selloff's "worst phase" has likely ended, said Mather, pointing to a higher-than-expected supply of corporate debt and an "unusual" supply month in Europe as possible explanations for rising yields.
    • Ten-year Bund yields -2 bps to 0.65%; U.S. 10-year yield -3 to 2.23%.
    • ETFs: GIM, EU, BNDX, BWX, IGOV, BUNL, BUNT, GGOV
    | May 13, 2015, 4:22 AM | 2 Comments
  • May 7, 2015, 11:18 AM
    • The German 10-year Bund yield soared to as high as 0.70% earlier, but has since retreated to 0.60%, up one basis point on the day. 10-year yields in Spain and Italy flew to above 2%, but are now sharply lower on the session at 1.73% and 1.78%, respectively.
    • The U.S. 10-year yield hit 2.30% during this period, and has now also pulled back to 2.22%, off two bps on the session.
    • "This Bund [yield] rally has caused a great deal of dislocation for fixed income investors," says the team at Barclays, noting a rise in yields of this size (here's a chart) has occurred just two other times in the past 15 years, and pointing to only 5% in a recent survey saw bond yields higher than 50 bps by the end of June.
    • The moves in Germany and elsewhere are classic "pain trades," says HSBC's Steven Major. "The pain trade is a steeper curve, so given what happened in the past few weeks, this pain could have been excruciating."
    • Source: Bloomberg
    • ETFs: EU, BNDX, BWX, PLW, STPP, IGOV, GOVT, FLAT, BUNL, ITLY, ITLT, GGOV, BUNT, TAPR
    | May 7, 2015, 11:18 AM | 1 Comment
  • May 6, 2015, 4:36 AM
    | May 6, 2015, 4:36 AM | 5 Comments
  • May 5, 2015, 10:12 AM
    | May 5, 2015, 10:12 AM | 10 Comments
  • Apr. 30, 2015, 10:05 AM
    • Bond yields have been headed higher for awhile - whether it be good or bad economic news - but they have an excuse to continue doing so after the Chicago PMI bounces back into expansion territory, hitting 52.3 in April from 46.3 in March.
    • It's no surprise to economist Philip Uglow, citing the end of winter and west coast port strikes.
    • Earlier, initial jobless claims fell to the lowest level in 15 years.
    • The 10-year Treasury yield is up six basis points to 2.10%. TLT -0.6%, TBT +1.2%
    • For those keeping an eye overseas, the German 10-year Bund yield is up another seven bps to 0.36% -- roughly a triple in yield this week.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, EU, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, PLW, GOVT, BUNL, TENZ, LBND, BUNT, GGOV, DLBL, TYBS, TAPR
    | Apr. 30, 2015, 10:05 AM
  • Apr. 29, 2015, 11:27 AM
    | Apr. 29, 2015, 11:27 AM | 2 Comments
  • Apr. 21, 2015, 10:35 AM
    • And why not, with the ECB pledging to buy €60B of it monthly for at least the next year-plus?
    • For the eurozone as a whole, government debt rose to a record 91.9% of GDP in 2014, up from 90.9% a year earlier. Greece naturally leads the way, with debt up to 177.1% of GDP from 175% in 2013. Since the last bailout to end all bailouts (2012), Greece's debt/GDP ratio is up a whopping 25 percentage points, and the country stands today on the verge of either bailout number three or another default and maybe exit from EMU.
    • Source, Bloomberg
    • Bill Gross is out on Twitter calling German 10-year Bunds - currently yielding 10 basis points - the short of a lifetime ... Even better than the pound in 1993. The only question, he says, is timing. Another widowmaker trade?
    • GREK -3.7%, NBG -9.8%
    • ETFs: EU, BUNL, ITLY, ITLT, BUNT, GGOV
    | Apr. 21, 2015, 10:35 AM | 32 Comments
  • Apr. 9, 2015, 3:30 AM
    • German exports recovered smartly in February, growing 1.5% on month after falling 2.1% in January and beating consensus of +1%.
    • Imports increased 1.8% following a decline of 0.2% and topped forecasts of +1.2%.
    • The trade surplus rose to €19.7B from €19.6B but missed predictions of €20.0B, while the current-account surplus climbed to €16.6B from €15.9B. (PR)
    • Meanwhile, industrial production increased a seasonally adjusted 0.2% on month, as expected, after slipping 0.4%. On year, output dropped a non-seasonally adjusted 0.3% vs +0.9% previously.
    • The figures come after data yesterday showed that factory output weakened in February, although PMI readings in March were strong.
    • "We expect Germany's industrial sector to continue to grow robustly in the coming months," says ABN Amro economist Aline Schuiling. "It is supported by the weak euro, historically low interest rates and strong domestic fundamentals."
    • The DAX is +0.5%, while the euro is -0.3% at $1.0746. (PR)
    • ETFs: EWG, EWGS, BUNL, DBGR, DAX, DXGE, GGOV, FGM, BUNT, QDEU, HEWG
    | Apr. 9, 2015, 3:30 AM
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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