Draghi’s dovish taper has sent Bund yields down over 5bps (admittedly to 3 day lows) – the biggest daily drop in 3 months…
And EUR/USD is at 3-week lows…
And as Bund yields tumble, Treasuries are less exuberant…
Pushing the TSY-Bund yield spreads to 200bps for the first time since April…
Might be a painful squeeze for that record short positioning?
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