German bank bonds are falling due to worry of commercial real estate contagion! https://image.nostr.build/b7ad766627ae1109b5a7c300ab3b5be50298fe7159f8f02d1c2f9cf43d06b397.jpg
Will there be forced conversions of the AT1s?
Not sure yet! But just wrote a piece about it on my sub stack if you’re interested in taking a read