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PowerShares DB German Bund Futures ETN (BUNL)

- NYSEARCA
  • Fri, Mar. 6, 4:46 AM
    • German industrial production increased 0.6% in January to top the 0.5% rise expected by analysts.
    • A mild winter in the nation helped give a lift to the construction industry. The reading for December was adjusted to 1.0% from 0.1%.
    • Output of capital goods was up by 0.5%.
    • Economists say the overall outlook for German industry is looking more positive.
    • ETFs: EWG, EWGS, BUNL, DBGR, DAX, DXGE, GGOV, FGM, BUNT, QDEU, HEWG
    | 1 Comment
  • Thu, Mar. 5, 5:13 AM
    • German manufacturing orders fell by 3.9% in January, nearly erasing December's 4.4% gain.
    • Factory orders can be volatile, and despite the sharp drop, economists are still generally upbeat about German factory activity.
    • “Softer demand from the U.S. and China, especially for vehicles, may partly explain the lack of better momentum in manufacturing,” one economist said.
    • ETFs: EWG, EWGS, BUNL, DBGR, DAX, DXGE, GGOV, FGM, BUNT, QDEU, HEWG
    | Comment!
  • Fri, Feb. 13, 3:59 AM
    • European stocks are adding to the previous session's gains, following mostly positive growth figures in the eurozone.
    • Boosted by strong domestic demand and household spending, the German economy rose 0.7% in Q4 after expanding 0.1% in the previous three months.
    • Data from France showed that GDP grew by 0.1% during the quarter, meeting analysts' expectations.
    • Matching the growth rate in 2013, the French economy expanded by just 0.4% last year, while Germany boosted growth for 2014 to 1.6%.
    • Update: The eurozone economy saw growth of 0.3% in the last quarter.
    • ETFs: EWG, EWQ, EWGS, BUNL, DBGR, DAX, DXGE, GGOV, FGM, BUNT, QDEU, HEWG
    • FTSE 100 +0.7%; DAX +0.6%; CAC 40 +0.8%; Euro Stoxx 50 +0.9%.
    | 5 Comments
  • Fri, Jan. 30, 8:36 AM
    • The 10-year Treasury yield has ducked under 1.70% for the first time in nearly two years following the softer-than-hoped preliminary read on GDP growth (2.6% vs. 5% in Q3, and forecasts for 3%). It's now off six basis points to 1.69%.
    • In Germany, 30-year government paper now carries a yield of less than 1% for the first time ever. The 10-year Bund is at 0.30%.
    • TLT +1%, TBT -2% premarket
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, SBND, TLH, VGLT, DLBS, UBT, TLO, TENZ, LBND, TYBS, DLBL, BUNL, GGOV, BUNT
    | 3 Comments
  • Thu, Jan. 22, 9:38 AM
    • It's an all-time low for Spain's 10-year note, which falls 14 basis points to 1.41% after the ECB launches a €60B per month asset purchase program. Italy's 10-year is down 12 bps to 1.56%.
    • German 10-year Bund yields are down eight basis points at 1.40%, and the U.S. 10-year Treasury yield has undergone a major reversal, now lower by four basis points to 1.84% after rising as high as 1.94% after the ECB announcement. TLT goes green by 0.45% after being down more than 1.5%.
    • ETFs: EU, BNDX, BWX, IGOV, BUNL, ITLY, ITLT, GGOV, BUNT
    • Previously: ECB launches €60B per month QE (Jan. 22)
    • Previously: Futures add to gains after ECB goes bigger than expected (Jan. 22)
    | Comment!
  • Tue, Jan. 6, 8:21 AM
    | Comment!
  • Tue, Jan. 6, 7:16 AM
    • The improbable (to most) rally in long-dated U.S. government paper continued overnight, with the 10-year yield dipping down all the way to 1.98%. It's bounced since, and currently stands at 2.00%, off three basis points on the session.
    • It's a global rally, with bonds in the BAML Global Broad Market Sovereign Plus Index having an effective yield of just 1.28% - an all-time low (data is from 1996 on). A sampling: Japan 10-years 0.29%, German 10-years 0.47%, Spain 1.55%, U.K. 1.62%, Italy 1.77%, Australia 2.7%.
    • TLT +0.5%, TBT -1%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, JGBS, JGBD, BNDX, ZROZ, BWX, SBND, TLH, VGLT, DLBS, UBT, TLO, IGOV, BUNL, JGBL, ITLY, TENZ, LBND, ITLT, JGBT, GGOV, TYBS, DLBL, BUNT, JGBB
    | 5 Comments
  • Dec. 29, 2014, 12:56 PM
    • A Greek vote paving the way for January elections that could bring the anti-bailout Syriza party into power have led risk-averse investors to flock to U.S. Treasurys and German Bunds. The 5-year Treasury yield is down 5 bps to 1.72%; the 10-year by 4 bps to 2.21%; and the 30-year by 4 bps to 2.78%.
    • The Bloomberg U.S. Treasury Bond Index is up 5.7% YTD, its biggest gain since 2011. The performance has been accompanied by a flattened yield curve: Treasuries with maturities greater than 10 years are up 23.4%, while those with maturities of 1-5 years are up only 1.1% as the Fed signals rate hikes will eventually arrive.
    • In spite of the 2014 gains and the yield-dampening impact of recent macro events, forecasters have become increasingly pessimistic about 2015 due to rate hike fears. The Bank of Tokyo's Chris Rupkey: "Next year should be the break-out year finally ... The market is ignoring the rhetoric that Yellen and the FOMC is getting closer and closer to tightening. The market has it wrong.”
    • ETFs: TBT, TLT, TMV, IEF, TBF, EDV, TMF, PST, TTT, ZROZ, SBND, TLH, IEI, TYO, VGLT, DLBS, DTYS, UST, UBT, TLO, VGIT, TBX, BUNL, GSY, TENZ, SCHR, DTYL, TYD, LBND, ITE, GGOV, DLBL, TYBS, BUNT, DFVL, TBZ, FIVZ, DFVS, TYNS, SYTL
    | Comment!
  • Dec. 16, 2014, 7:34 AM
    | 4 Comments
  • Dec. 12, 2014, 11:24 AM
    • The 10-year Treasury yield has tumbled all the way to 2.08% - a 16-month low if one forgets October's flash crash in yields. The 30-year is down to 2.77%.
    • Checking Europe, German 10-year yields look about ready to challenge Japan, down another five basis points to 0.63% (Japan's at 0.40%). In the U.K., 10-year government paper yields 1.81%, Spain 1.88%, Italy 2.04% - all less than the U.S.
    • 30-Day Fed Funds Futures contracts continue to price in a rate hike next year, but it's been pushed back to the September/October time frame.
    • TLT +0.8%, TBT -1.6%
    • The moves come, of course, as oil continues to carve out new multi-year lows (now down 3% on the session to $58.15 per barrel), setting off broad declines in the equity averages here and across the pond.
    • ETFs: TBT, TLT, TMV, SHY, IEF, TBF, EDV, TMF, PST, EU, TTT, ZROZ, SBND, TLH, IEI, TYO, VGLT, DLBS, DTYS, BIL, UST, UBT, TLO, VGSH, VGIT, SHV, TBX, SCHO, BUNL, GSY, ITLY, SCHR, TENZ, DTYL, TYD, LBND, ITLT, ITE, DTUS, GGOV, TYBS, SST, DLBL, BUNT, DTUL, DFVL, TUZ, TBZ, FIVZ, DFVS, TYNS, SYTL
    | 10 Comments
  • Nov. 3, 2014, 4:03 AM
    • German manufacturing PMI returned to growth territory in October, increasing to 51.4 from September's 15 month low of 49.9.
    • Production growth accelerated despite a marginal decline in new orders, the rate of job creation hit a 33-month high, and input costs declined at the sharpest rate since April.
    • "The data sends mixed signals about the health of Germany's manufacturing sector and it is too early to say whether the sector will be able to sustain growth in the fourth quarter," says Markit.
    • The DAX is -0.1%, while the euro is -0.2% at $1.2498. (PR)
    • ETFs: EWG, EWGS, DBGR, BUNL, DXGE, GERJ, FGM, GGOV, BUNT, QDEU, DAX, HEWG
    | Comment!
  • Oct. 27, 2014, 5:12 AM
    • The German Ifo institute's business-climate index has dropped for the sixth month, slipping to 103.2 in October from 104.7 in September and missing consensus of 104.3.
    • The current-situation reading declined to 108.4 from 110.5 and undershot forecasts of 110, while the expectations print fell to 98.3 from 99.3 and vs estimates of 98.9.
    • The euro shows little reaction and is +0.2% at $1.2697, while the DAX is -0.1%.
    • CESifo Web site
    • ETFs: FXE, EUO, EWG, ERO, EU, DRR, GUR, ESR, EUFX, EWGS, ULE, DBGR, BUNL, URR, DXGE, GERJ, FGM, GGOV, BUNT, QDEU, HEWG, DAX
    | Comment!
  • Oct. 15, 2014, 3:05 AM
    • German CPI remained flat on month in September, as initially estimated.
    • On year, CPI held at +0.8%.
    • The low inflation rate was mainly due to decreasing energy prices, the government's Federal Statistical Office says.
    • The data adds to CPI figures from across the EU yesterday, which provided further evidence of the danger that deflation poses to the region.
    • The DAX is +0.1%, while the euro is flat at $1.2659. (PR)
    • ETFs: EWG, EWGS, DBGR, BUNL, DXGE, GERJ, FGM, GGOV, BUNT, QDEU, HEWG
    | Comment!
  • Oct. 14, 2014, 5:21 AM
    • The German ZEW survey of investor confidence has unexpectedly dropped into negative territory for the first time in almost two years, tumbling to -3.6 in October from 6.9 in September and missing expectations of 1.
    • The current situation print has slumped to 3.2 from 25.4, falling short of consensus of 18.
    • Sentiment for the eurozone plunged to 4.1 from 14.2 and missed forecasts of 7.1.
    • "Geopolitical tensions and the weak economic development in some parts of the Eurozone, which is falling short of previous expectations, are a source of persistent uncertainty," says ZEW President Professor Clemens Fuest. "These factors are tarnishing growth expectations in Germany. Disappointing figures concerning incoming orders, industrial production, and foreign trade have likely contributed to the growing pessimism among financial market experts." (PR)
    • The DAX is -0.5% and the euro is -0.8% at $1.2653.
    • European ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EU, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, ADRU, URR, FEEU, EURL, EURZ, DBEU, IEUR, FIEU, ESTX, HEZU
    • German ETFs: EWG, EWGS, DBGR, BUNL, DXGE, GERJ, FGM, GGOV, BUNT, QDEU, HEWG
    | 2 Comments
  • Oct. 7, 2014, 6:42 AM
    • Germany industrial production fell more than economists forecast in August, dropping 4% from July, when it expanded 1.6%, the biggest decline since January 2009.
    • As sluggish growth plagues the euro zone, Germany faces a slimming export market in addition to political tensions with Russia.
    • Output of investment goods -8.8%; intermediate goods -1.9%; consumer-goods production -0.4%; construction -2%. Only energy output rose, climbing 0.3%.
    • Der Spiegel magazine reported on Sunday that the IMF would cut its German economic growth in 2014 and 2015 to around 1.5% per year from previous 1.9% and 1.7% estimates.
    • DAX is down 0.8%.
    • ETFs: EWG, EWGS, DBGR, DXGE, GERJ, FGM, QDEU, HEWG, BUNL, GGOV, BUNT
    | Comment!
  • Oct. 5, 2014, 10:47 AM
    • The International Monetary Fund will cut its estimates for German economic growth in 2014 and 2015 to around 1.5% per year due to the crises in Ukraine and the Middle East, Der Spiegel reports. The forecasts are due to be published on Tuesday.
    • In July, the IMF estimated Europe's largest economy to expand by 1.9% this year and by 1.7% in 2015. Germany's economy got off on a strong foot in the beginning of year but shrank by 0.2% in Q2.
    • Der Spiegel says the IMF will also call on the German government to do more to boost public and private investment to boost growth in the short term and bring benefits for the country in the medium term.
    • ETFs: EWG, EWGS, DBGR, BUNL, GERJ, DXGE, FGM, GGOV, BUNT, QDEU, HEWG
    | 6 Comments
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BUNL Description
The PowerShares DB German Bund Futures Exchange Traded Notes (BUNL) (collectively, the "PowerShares DB German Bund Futures ETNs," or the "ETNs") are the first exchange-traded products to provide investors with leveraged or unleveraged exposure to the U.S. dollar value of the returns of a German bond futures index.
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Country: Germany
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