‘Never Short the Bund’: How Investors Have Learned the Hard Way
- Even zero-percent yields offer reasons to buy German debt
- U.S.-based investors seen as earning 3 percent yield on bunds
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Brian Tomlinson, a money manager at Allianz Global Investors, has a sticker on his desk that says “Never Short the Bund.” It’s something he says still applies after yields dropped below zero percent for the first time in over two years.