Dec. 15 (Bloomberg) -- Goldman Sachs Group Inc. said traders should unwind bets that German bunds will fall.
The company is ending its recommendation to short 10-year German bunds after yields on the securities declined below 2 percent yesterday, the company said in a report today.
“We still believe that Bund prices will head lower through the year, but clearly the stronger early move has been in the opposite direction,” Francesco Garzarelli, a member of Goldman’s global markets team in London, wrote in the report.
To contact the reporter on this story: Wes Goodman in Singapore at email@example.com
To contact the editor responsible for this story: Rocky Swift at firstname.lastname@example.org