EURO GOVT-Bunds rise as French data points to recession

LONDON Thu Jan 24, 2013 3:07am EST

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LONDON Jan 24 (Reuters) - German Bund futures erased early losses and rallied to their highest in nearly three weeks after French manufacturing data fell short of expectations, pointing to a recession in the euro zone's second biggest economy.

Safe-haven Bund futures jumped to 143.93, up 34 ticks on the day, reversing an early fall that saw the contract trade as low as 143.40.

Thursday's PMI survey showed French business activity shrank in January at the fastest pace since the trough of the global financial crisis.

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