EURO GOVT-Bunds briefly hit session high, underpinned by Cyprus
LONDON, March 19
LONDON, March 19 (Reuters) - German Bund futures briefly hit a session high on Tuesday as uncertainty about Cyprus's bailout program underpinned demand for safe-haven debt.
German Bund futures rose to 144.33, the day's high, with a trader saying more buying was triggered at 144.20. The contract was last up 30 ticks on the day at 144.24.
"For the moment it looks like the choice is buying the dips which seems to be what's happening. 144.00 is becoming quite a good support level for Bunds and I wouldn't get short until we get below that level," the trader said.
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