A BEARISH POSITIVE CARRY TRADE
The Eurostoxx outperformance of the past month has garnered a lot of attention, but there is another similar trade many investors are missing. Not only that, but it has a positive carry, something that is sorely lacking in this day and age of NIRP.
Since early April, the German Bund / US T-note 10 year yield spread has rallied 35 basis points, rising fro…