I would long 10 year Treasuries at 3.69% yield. 70% of NAV/
I would probably close at 3.40%.
I also fucked up on the German government speculation... I should have shorted Treasuries as a hedge. I didn't know how correlated (in the short term) that the euro-zone bond market is with the American bond market. I do not regret it, but I just want to forget the GBP/JPY position. I even knew it would whipsaw against me. (The GBPUSD at 1.52, I thought it peaked then. )
Thursday, May 28, 2009
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