LONDON: Bund futures edged higher on Tuesday, with some investors snapping up the cheapened paper after it hit two-month lows in the previous session.
Monday's better-than-expected US durable goods data added momentum to a sell-off in Bunds triggered by the European Central Bank's announcement last week that banks planned to repay 137 billion euros of three-year loans taken in late 2011.
At 0704 GMT, Bund futures were 8 ticks higher on the day at 141.87. They hit a two-month low of 141.61 on Monday, having fallen by almost two full points in the past three sessions.
"Yesterday was a pretty messy day so we may have a few people looking to oppose this move," one trader said. "I'd like to see stronger data going forward to vindicate these moves."
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