EURO GOVT-Bunds extend losses in low volumes

LONDON Mon Jan 21, 2013 5:14am EST

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LONDON Jan 21 (Reuters) - Bund futures extended losses on Monday in low volumes after Republican lawmakers' proposal to give the U.S. government leeway to pay its bills for another three months dented appetite for safe-haven assets.

German Bund futures were down 36 ticks on the day at 142.96. Volumes were thinned by a market holiday in the United States.

"Volumes are low with the U.S. being on holiday," one trader said. "The sell-off last week looked led by the short-end, which led to some curve flattening, but now there is a bit of repositioning in the curve and we see some steepening again."

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