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Markets

Poor German sale kicks Bunds to day's lows

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By Muhammad Iqbal
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LONDON: Bund futures hit session lows on Wednesday after a German sale of 32-year bonds drew fewer bids than the total amount offered as record low coupons hurt demand for the safe-haven paper.

This was the second poor Bund auction in two weeks after a 10-year auction also suffered the same fate as ultra low German yields sidelined dealers.

June Bund futures fell 43 ticks on the day to 140.19 from 140.44 before the auction results.

Copyright Reuters, 2012

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