EURO GOVT-Bunds slip as traders anticipate strong Italy auction

LONDON Nov 14 (Reuters) - German Bund futures fell to a session low on Wednesday and Italy outperformed as traders positioned for a strong auction of Italian debt later in the session.

Bund futures slipped 28 ticks to a low of 142.86 after opening slightly higher at 143.20. Italian 10-year bonds put in a modest rally, driving yields down 3 basis points on the day to 4.94 percent.

"We're pretty bullish about the BTP auction this morning... that's helping to drive down the longer end in Bunds," a trader said.