In 2015 Bill Gross, the famous American fund manager co-founder of PIMCO and currently at Janus Henderson, called the German Bund the “short of a lifetime”. At the time the 10yr yield was hovering around10bp and soon it quickly reached almost 100bp, only to go back to a negative yield in 2016!
Since March this year I have woken up in the morning thinking that a 0.3% yield on a 10-year government bond, even if issued by the rock-solid Germany, is not worth considering. Today, after six months, that yield is still only at 0.40%; so it was not worth considering neither as a long, nor as a short position once you factor in the costs and the time (i.e. the rolling yield).