German Bund briefly turns lower in choppy trade
LONDON: The German Bund future briefly turned lower in choppy trade on Friday as investors tried to cash in on a rally in the previous session but bounced back as worries over a potential US recession and the euro zone debt crisis provided underlying support for safe-haven assets.
The Bund future fell 21 ticks but rebounded to stand up 6 ticks higher 135.81. It hit a session high on Thursday at 136.26.
"It's probably just a little bit of fast money taking profits... but it's all very thin (volumes) and any move is going to be amplified as we saw yesterday with the Bund futures two points higher. The market generally feels better bid and if there's any kind of dip people are pouncing on it. The situation is still pretty grim," a trader said.
Copyright Reuters, 2011
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