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Biggest drop on record officials said wouldn't happen.

Eurodollar University

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German Bond Market - What Were You Expected to See in 2019?

Germany told us very, very early on in 2018 what was to come. We got Eurodollar futures inversion in June of 2018 after the German curve had already flattened substantially. And for Germany, that actually meant a solid pre-COVID recession by the third quarter, maybe even the second quarter of 2019. You can also go back to 2008. While everybody thought that the 2008 crisis was a US crisis or US dollar crisis, we saw again very early on the German economy started to get very weak and then all of a sudden in Q2 2008, GDP turned negative.

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