LONDON: Bund futures erased gains on Tuesday after data showed Germany's manufacturing sector expanded in January for the first time since September, in another sign Europe's largest economy might avoid tipping into recession.
The flash estimate of the manufacturing purchasing managers' index (PMI), a survey of German industry by data compilers Markit, jumped to 50.9 from 48.4 the previous month, easily beating expectations.
Bund futures fell 10 ticks on the day to 137.34 after the data.
"There is no Greek deal yet so there was a small bid this morning but the latest macro data from Germany and France are a little bit better than expected and that's what's behind this," a trader said.
Comments
Comments are closed.