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Markets

Bunds extend rise after US jobs data

Published September 7, 2012 Updated September 7, 2012 02:05pm
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By Shoaib Ur Rehman
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germany-bondsLONDON: German Bund futures extended their rise on Friday after a below-forecast US payrolls report fueled demand for German debt on expectations that the Federal Reserve would launch fresh buying of closely-correlated US Treasuries.

Non-farm payrolls increased only 96,000 last month, the Labor Department said on Friday, compared to a Reuters forecast of 125,000.

German Bund futures rose 40 basis points to 140.57.

"Payrolls was absolutely awful. The world is (in trouble) in terms of growth so QE3 (quantitative easing) looks a very distinct possibility to us next week," one trader said.

Copyright Reuters, 2012

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