The stunning rout in German bonds over the past week has left many investors dumbfounded. With an 800% increase in yield over a matter of days that wiped out roughly $450 billion dollars according to the Wall Street Journal, German bonds have experienced an unprecedented level of volatility for the so-called “safe” asset.
Good insight on Bill Gross's downfall from his lofty perch in Newport Beach.
From Bloomberg:
“Money, big money, personal egos, differences of opinion, slights and disagreements built up over 10 or 15 years -- that’s a pretty explosive combination.”
