Wild rides for the bond market as European yields go from highs to lows
Yields are now down on the day following the high busting moves earlier today. Only French 10's are managing to keep their nose above water
European 10 year bonds
The major currencies have responded by dropping also as the bond market fuel runs out
GBpUSD has found resistance at 1.5370 and EURUSD has found some at the old overnight highs around 1.1285/90
It's quite a turnaround for yields and I'm wondering if the ECB hasn't been active, one because bonds are getting cheap and two, to soften this volatility, even though they said they don't care
Update: Livesquawk note trader chatter that says a 15k block buy was put through in bunds, and that it might have been a spread against Treasuries
