Bloomberg News

Goldman Sachs Advises to Close Bets Against 10-Year Bunds

December 15, 2011

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 wgoodman@bloomberg.net

To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net


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