For the moment trading Bund and Bobl, but also looking in to ZN and ZF. For me it seems t that ZN is less volatile than the Bund and ZF less volatile than the Bobl. Is this correct, please give your opinions.
The difference in the volatility is mostly due the different yields on the underlying cash notes...this results in higher prices on the bund/bobl. When the bund & ZN were basically the same price 03/03-07/03 the daily ranges were roughly the same.