Global core bonds lost more ground

Markets: Fixed Income On Friday, in a thinly traded session, global core bonds lost more ground. While the losses of the US Treasuries were simply the reversal of risk aversion trades set up in also very thin late pre-Thanksgiving trade, the losses of the German bonds were more revealing. Indeed, since the failed Bund auction last Wednesday, the Bund has sharply lost ground and this continued on Friday suggesting the auction failure might have been a game changer. Interestingly but scary, the

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