The recent progress towards a crisis resolution in Europe was also capping the upside for safe-haven debt, analysts said, even though Bunds would continue to benefit from an impasse in US talks aimed at avoiding a fiscal crisis.
European leaders agreed to press on with further steps to shore up their finances and sustain momentum in tackling the debt crisis on Friday, a day after clinching a deal on banking supervision and approving long-delayed aid to Greece.
German Bund futures were down 32 ticks on the day at 144.74.
"I am a bit cautious on the Bund because I think there are important decisions taken in Europe," Piet Lammens, strategist at KBC said. "On the fiscal cliff things are less clear at this juncture so (it is) a fight between various influences."
Analysts would look to euro zone manufacturing survey later in the session for fresh insight into the health of the global economy.
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