(Bloomberg) Karen Karniol-Tambour, head of investment research at Bridgewater Associates, sees German bonds slumping and the euro’s rally against the dollar coming to an end.For European bonds, “there’s really no tightening that is priced in, and so it’s sensible for those assets to keep underperforming as the economy picks up,” and German bunds may be the most vulnerable, she said Thursday in a Bloomberg Television interview. In Germany, the bond market has been squeezed most tightly by the European Central Bank’s “massive buying. That is where there’s the least supply relative to what the buying has been like.”

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