TD Takes Profit on Long 10-Year German Bund Trade -- Market Talk

Dow Jones02-24 14:31

0631 GMT - TD Securities takes profit on long positions in 10-year German Bunds, senior rates strategist Pooja Kumra says. TD entered their long at a yield of 2.86% in December at a time when markets were bringing forward expectations for a European Central Bank rate hike toward late 2026, she says. TD targeted a yield of 2.60% and exits the trade at 2.68%. The recent rally in global rates has been strong and primarily led by U.S. Treasurys but the strategist believes that fundamentals don't support further falls in yields. "However, we do not believe that the underlying fundamentals sufficiently support a dovish bias in rates," they say. Both hard data and surprise indicators remain resilient, while the supply pipeline weighs on term premia. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

February 24, 2026 01:31 ET (06:31 GMT)

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The recent rally in global rates has been strong and primarily led by U.S. Treasurys but the strategist believes that fundamentals don't support further falls in yields. \"However, we do not believe that the underlying fundamentals sufficiently support a dovish bias in rates,\" they say. Both hard data and surprise indicators remain resilient, while the supply pipeline weighs on term premia. 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