Day 16 … result
As market was pressured in the morning on UBS news … some wanted to see it negative … market not only made it back to Fridays highs … it was even squeezed above the important levels … not long though … FESX holds downtrend … Dax was shortly above it … as even bond insurer MBIA found some money 
… stock rose 22% and dragged the whole sector with it.
Bund sold off aggressively … why? I think it has to do with the end of the year and out of 3 reasons … liquidity is needed, so as short term rates rose dramatically over the last weeks, there is no room to hold bonds which offer not enough risk premium … as Fed could loosen again, inflation expectations are rising … again a reason to sell Bunds … and as stock markets recover, even attempt to set medium to long term buy signals … bonds are sold off as they have been held as a hedge against market turmoil.
Ok … anyway … I traded cautiously the long side … made some points …
So …
Trading days - 16 … Points made 40.5 … Total 348.0 … Average 21.75
Roundturns - Size x 2 … Total 35 … Average 2.19
Tags: bond insurer, BUND, FESX, result, statistic
