It's all about the Bund baby.
German 10-year yields are at a session high at 0.73% after falling as low as 0.559% shortly after US retail sales. That's lifting the euro and will continue to do so.
This is the theme song to the 1980s Hong Kong TV show called 'The Bund'
The lyrics are strangely appropriate.
Rushing waves, flowing waves
Thousand miles of the torrential river flows ceaselessly forever
Washed away the worldly affairs
Torrential mixing of the tidal currents
is it happiness? is it sorrow?
Hard to differentiate between happiness and sorrow in the waves
Success losing
Hard to see in the waves
Love you, hate you
Asked you if you know
Like a giant river, once distributed will not be withdrawn
Passed by in many bays
Passed by many beaches
Still not yet to suppress these struggles
Both happiness and sorrow
Unable to differentiate between them
Still wishing to overcome these waves
My heart has enough of those rises and falls
Still wishing to overcome these waves
My heart has enough of those rises and falls
