May 07/15 – Bund bears in their natural habitat

Over the past week, the German bund market has experienced what amounts to a crash. It was somewhat orderly, with only this morning’s action getting truly squirrelly, but it was a crash nonetheless.

The German 10 year yield has exploded from a level of 0.15% at the end of April, to a high tick of 0.78% this morning. This has all happened over the last si…