Long-dated German debt lead Bunds lower

LONDON: German Bunds extended losses on Monday with traders citing some position squaring in long-dated bonds in the wake of the European Central Bank's commitment to buy the bonds of struggling euro zone issuers to tackle the debt crisis.

The December Bund future fell 52 ticks to 140.13 while cash 30-year yields were up 9 bps at 2.42 percent.

"It's being led by the 30-year sector, it's been heavy all morning, we're heading back towards a big level at 2.44 percent, potentially there's some real money position squaring going on," a trader said.