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Yes, true, sorry... Been looking at the 5y, while writing "10y". And yes, something certainly did happen in Europe. Question is how much it's worth and whether it means people should be buying Italy here.

Of course it's a classic bond mkt squeeze... The funding risk premium has been removed, so the bonds are performing like there's no tomorrow. Nothing particularly unusual about that.

I haven't read "Market Wizards", nor any of Drobny's books. But, then again, I ain't a macro trader and never aspired to be. I think a vast majority of macro traders are not worth the chairs they're sat in.

Depends on how it's done, I guess... Devil's in the details, as usual. Another question would be how they define "performance". I presume we're talking about some sort of a total return, rather than just some measure of index performance. Otherwise, it's gonna be apples and oranges.

Why would you say such a thing? The reasons why a real money manager would be underweight Italy are still very much valid. The fact that Italy has rallied 500bps changes nothing. In fact, if anything, it makes the case stronger.

One of the problems with these types of studies is that they often fail to take account of survivorship bias. Not sure whether this is the case here, but I don't see any mention of the author correcting for it. In general, I expect survivorship bias to have a large effect on the actual...

Where do you get the idea that it was the "moron fund managers" that have sold BTPS? Most BTPS have been sold by real money people, who don't want to have anything to do with the credit... They still don't want it, regardless of how badly it gets squeezed.

If only... That's not how 'em flies normally work.

Yes

Not this discussion again...

Well, good luck to you!

You don't really get what I'm saying, do you, T666?

Haha, appreciate it...

From this: Moreover, if PSPR actually bothered to a little tiny bit of checking, he/she would have hopefully realized how embarassing it is to provide a link to an article with a silly title like "New CBO Report Decimates 'Obamanomics': Real Unemployment Hits 15%". Anyways, as I said, I am...

This subject has been discussed a number of times in a number of threads on this forum. Would it be at all possible to avoid doing it again?

Simple... Because one of my pet peeves is people who presume to issue opinions and start discussions without going through the minimal amount of work to understand the subject, if only a little bit. Especially, in this digital age, when the effort required is trivial. But never mind me...

Thank you, sire... I understand the context, I think. Huh? What is this in response to?

It's simple... Would you like me to explain?

This "shit" is only new if you've been living in a cave somewhere.

Interesting concept - yes. Worth looking into - not really. But that's just my Z$2c.