LONDON: German Bund futures reversed losses on Tuesday as Spanish yields edged up on uncertainty about when Spain may ask for a bailout after euro zone finance ministers said the country did not need one yet.
"We're trading pretty much in a tight range and I can't see us moving far from that until we get something more concrete on Spain," a trader said.
"People aren't carrying huge amounts of risk and there's still buying of dips in Bunds...the periphery has done well and we're seeing some of the (fast money) take profits there and move back to the core," he added, referring to accounts such as hedge funds who take short-term positions in the markets.
Bund futures were last 8 ticks higher on the day at 141.47 while Spanish 10-year yields were up 5 basis points at 5.78 percent.
Comments
Comments are closed for this article.