After plunging for weeks, German bund (bond) yields are surging again Wednesday.
The yield on the country’s 10 year bund — a common measure of how creditworthy a country is — has nearly doubled in just a few hours (from a very low level).
Here’s how today’s move looks:
There’s no one catalyst for the move, but Bloomberg is pointing to comments bond market veterans Jeff Gundlach and Bill Gross suggesting that they’re now shorting the bund.
Yields are still way down on where they were even at the start of the year, but even over a longer timeframe the jump today is clear: