Large Block Trade Triggers Bund Rally

Since everyone is laser focused on DM yields and, more specifically, on German bunds and whether we’ll get a repeat of the 2015 bund “tantrum,” it’s probably worth noting that just after 4 a.m. EST,  a block trade of 7.5k bunds was executed at at 160.79 (EU1.1m/bp) and appeared to be a buy:

Bund

“As Friday’s high (160.73) was breached, volumes surged with over 11k contracts trading in 1-minute between 160.70/84, pointing to stops being triggered,” Bloomberg notes.

And so we get this in bund and Treasury yields:

bundtreasuryyields

So maybe that’s your “tantrum-be-gone” spray for Monday.

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