LONDON: German Bunds futures were steady at the open on Thursday, as investors paused for breath after another record high the previous day and looked to manufacturing and business confidence data for fresh insight into the health of the euro zone economy.
Upcoming Greek elections, speculation about its possible euro exit and concerns over Spain's banking system have seen investors flock safe-haven debt recently and analysts say bond prices can rise further with no crisis solution in sight.
There were no breakthroughs at a summit of European Union leaders overnight fraught with disagreements over a plan for mutual euro zone bond issuance and other measures, such as giving countries like Spain an extra year to make spending cuts.
EU leaders also urged Greece to stay the course on austerity and complete the reforms demanded under its bailout programme, piling pressure on the highly indebted country before its June elections, which could be decisive for its euro membership.
"We are at crazy levels, but what's going to stop it? We have got this all the way until June 17 the Greek election," a trader said.
The summit resulted in "disagreement and nothing to stem the crisis in any significant way," he added.
The German Bund future recovered an early dip to stand little changed at 144.08, having reached a record high of 144.28 in the previous session.
Two-year German yields were 1 basis point higher at 0.04 percent, having fallen as far as 0.02 percent the day prior. Thirty-year government bond yields were 1 basis points higher at 2.01 percent, having dipped below the 2 percent level in the previous session.
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