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The expert magazine of Ostrum AM
Topic of the week: Where is the Bund going?
- ECB’s monetary policy has anchored yields at a low and stable level.
- As long as this policy remains unchanged, the Bund is to remain in a tight range of -0.65% to -0.35%.
- On a longer horizon however, a change in ECB’s stance could be associated with more sizeable curve moves.
- The fundamental value is more elevated, we find it North of 1% in the case of the Bund.
Market review: Euphoria and chaos
- Reflation trade collides with unrest in Washington
- Small caps, steepeners and TIPS outperform
- T-note yields rise to 1.10%
- Euro sovereign and credit spreads down
MyStratWeekly : Market views and strategy
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