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Below is a brief excerpt transcribed from Tuesday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough

McCullough: Germany = #Quad4 In Q4 - 9 29 2020 12 28 11 PM

One sentence for you. #Quad4 in Q4 in Germany.

That’s right, we have Quad 4 in Q4 for the Germans. The bond (or bund) market gets it and the German stock market gets it.

Have a look at the huge lower high on the DAX chart below. There are big lower highs and then there are HUGE ones.

This has a one day rally to a lower high and is now breaking down through trend this morning as bunds yields continue to fall.

In case you haven’t been writing down all of this data and studying deliberately, the 10 Year Bund yield in Germany is down 13 basis points in a month bringing it down to -54 basis points.

That is a lot.

When you want to consider the scope of further yields falling outside of America, look no further than the global bond yield anchorman called the Swiss 10 Year yield alongside Germany.

The Swiss 10 Year Yield is at -55 basis points.

Yuck.

McCullough: Germany = #Quad4 In Q4 - 9 29 2020 12 29 21 PM