We integrate into our Watchlist the ETF Lyxor DSB (Double Short Bund index listed in euro) whose objective is to provide the daily inverse x2 performance of a German government 10 years bonds portfolio. Expenses related to the ETF are rather low at around 0.2%.
DSB seems attractive in the current context of sentiment of change in the ECB monetary policy. We believe that the tapering (and thus lower bond) soon start a long-term cycle of rising rates, while the downside potential is very low.
DSB looks at the very beginning of a new bullish trend, which will correspond to an improvement of European growth and a gradual reflation from falling unemployment (Germany now has an ambition of full employment) and consequently wage increases later on.
The weekly chart shows a downward trend that is coming to an end. The 13 and 26 EMA are not far from a crossover, while the MACD has just given a positive signal. However, a confirmation is needed through the EMA effective crossover the breakout of the €38 level.
DSB charts, weekly data :
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We integrate into our Watchlist the ETF Lyxor DSB (Double Short Bund index listed in euro) whose objective is to provide the daily inverse x2 performance of a German government 10 years bonds portfolio. Expenses related to the ETF are rather low at around 0.2%.
DSB charts, weekly data :