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Treasuries 'Cheapest' In 6 Months As Bund Yields Tumble On Dovish Draghi Taper

Draghi's dovish taper has sent Bund yields down over 5bps (admittedly to 3 day lows) - the biggest daily drop in 3 months...

 

And EURUSD is at 3-week lows...

 

And as Bund yields tumble, Treasuries are less exuberant...

 

Pushing the TSY-Bund yield spreasd to 200bps for the first time since April...

Might be a painful squeeze for that record short positioning?