pachapapa Posted January 3, 2012 Share Posted January 3, 2012 [quote user="Quillan"]As for Mr (Frederick) Forsyth, he is an excellent writer but considering he is now 74 years old (born August 1938) many of the things he talks about he would have been only seven at the most when they happened. His ramblings very definitely smack of 'old school', fortunately things have moved on and the UK stopped being a world power just after WW2.[/quote]With reference to the letter, he mentions visiting germany in 1952, when aged 13. I would have thought as easy to remember as when he was 7 years old.I can remember clearly the two german POWs who joined the family and relatives for lunch on Boxing Day before they returned to germany. Link to comment Share on other sites More sharing options...
Pickles Posted January 9, 2012 Share Posted January 9, 2012 Could someone please explain to me WHO is buying (and why?) 6-month German Eurobonds at a negative yield? What do they expect to happen in the next 6 months?http://www.bbc.co.uk/news/business-16470494 Link to comment Share on other sites More sharing options...
just john Posted January 9, 2012 Share Posted January 9, 2012 I'll take a wild stab that investors who trade with the Euro or need to hold Euro bonds for whatever reason, would only happily gamble with those held by Germany. Perhaps they are hedging that one/some of the pigs may be dropped from the EU and the Euro could then rise . . . I stand to be corrected[Www] Link to comment Share on other sites More sharing options...
pachapapa Posted January 9, 2012 Share Posted January 9, 2012 [quote user="just john "]I'll take a wild stab that investors who trade with the Euro or need to hold Euro bonds for whatever reason, would only happily gamble with those held by Germany. Perhaps they are hedging that one/some of the pigs may be dropped from the EU and the Euro could then rise . . . I stand to be corrected[Www] [/quote]BUBA changed the" modus operandi ".Starting with the auction on 9 January 2012 there will be an alteration of the bidding rules in the Bund Bidding System (BBS) from yield to price bid submission in the case of Bubills. It is allowed to submit price bids with prices below 100, at par or above 100. Through the submission of price bids with prices above 100 it is possible to submit price bids reflecting negative yields.The price bids must be expressed as full 0.00005 percentage points. Bids must be for a par value of not less than € 1 million or an integral multiple thereof. It is possible to make non-competitive bids and to submit several bids at different prices. Yield bids will no longer be considered Link to comment Share on other sites More sharing options...
fisherman Posted January 9, 2012 Share Posted January 9, 2012 wow pachapapa I must admit that you lost me in the second sentence but pretty impressive all the same. Link to comment Share on other sites More sharing options...
pachapapa Posted January 9, 2012 Share Posted January 9, 2012 [quote user="fisherman"]wow pachapapa I must admit that you lost me in the second sentence but pretty impressive all the same.[/quote]When in doubt I check out Izabella Kaminska.[:)]Smart chick and not bad looking either!http://ftalphaville.ft.com/blog/2012/01/09/823051/negative-yields-at-the-house-of-buba/ Link to comment Share on other sites More sharing options...
pachapapa Posted January 9, 2012 Share Posted January 9, 2012 The buzz word is giffen goods which perversely have increase in demand with increase in price.The more they cost, the more you wanna buy'em....So with german bunds the important factor is safety and liquidity and stuff the yield; corrollary is that the more negative they get then the more they have an aura of being a safe haven.A tad obtuse.[:)] Link to comment Share on other sites More sharing options...
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