NEWS BITES - BONDS
Germany Treasury 3-Month bond, has decreased 0.002% after hitting the upper Bollinger Band three times in the last ten days. The upper Bollinger Band marks the trajectory of resistance on a bond price. This is a bearish signal.
|Price Change %||0.1||0.1||0.07||0.01|
GERMANY TREASURY - OTHER MATURITIES
|Headline||YTM %||Close price [EUR]||Price change %|
|20-Year bond drops on high volatility||0.04||182.06||-0.9|
|30-Year bond price rises 0.5% from 14-day low [Implied Yield falls to 0.221%]||0.22||93.44||0.2|
SECTION 1 GERMANY 3-MONTH BEARISH SIGNALS
1.1 Price Dynamics:
+ Falls to Rises in the past month: the number of falls outnumbered rises 13:5 or 2.6:1. The bond traded in 18 of the 22 trading days.
1.2 Overbought/Bearish/Resistance Signals:
+ At EUR100.22 the price has risen above the upper Bollinger band resistance of EUR100.21, indicating a downside risk for it to fall back within the band.
+ The Relative Strength Index (RSI) of 88.7 has penetrated the overbought line of 70, suggesting the price gain of 0.1% in the last 14 days is unusually high.
+ The bond is overbought according to the Williams % R indicator of -1.9, suggesting the price is close to its 14-day high of EUR100.22.
SECTION 2 GERMANY 3-MONTH BULLISH SIGNALS
2.1 Price Dynamics:
+ The price increased 0.1% in the past week and 0.1% in the past month.
2.2 High Performance Indicators:
|Description||Value||Rank In Sovereign Bond Market|
|Price/MAP200||1.0||In Top 5%|
|Price Change %||-0.002||In Top Quartile|
SECTION 3 PRICE VOLUME DYNAMICS
+ The Germany 3-Month is at a discount of 0.1% to its 12-month high of EUR100.29 traded on December 20, 2018.
+ It is at a premium of 0.1% to its 12-month low of EUR100.08 traded on February 12.
+ The present value of EUR1,000 (PV1000) invested one year ago in Germany 3-Month is EUR1,000, for a capital loss of 15c.
SECTION 4 MACROECONOMIC INDICATORS: GERMANY
|GDP (USD Billion)||3,997|
|GDP growth yoy (%)||0.5|
|Interest rate (%)||0.05|
|Inflation rate (%)||1.1|
|Public debt (USD) (billion)||2,792.9|
|Public debt per person (USD)||34,200|
|Debt to GDP (%)||61.9|
|Budget Surplus to GDP (%)||1.9|
|Current account Surplus to GDP (%)||7.6|
|Unemployment rate (%)||3.1|
SECTION 5 CREDIT RATING SUMMARY
|Rating Agency||Long Term||Description|
|S&P||AAA||Extremely strong capacity to meet financial commitments. Highest Rating.|
|FITCH||AAA||Highest credit quality: 'AAA' ratings denote the lowest expectation of default risk. This capacity is highly unlikely to be adversely affected by foreseeable events.|