EURO GOVT-Bunds erase gains as periphery stabilises

LONDON, March 28 Thu Mar 28, 2013 7:49am EDT

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LONDON, March 28 (Reuters) - German Bund futures erased gains made earlier in the session, falling to a session low on Thursday as investors closed out long positions and with lower-rated euro zone bonds stabilising.

"We've had some selling in the peripherals at the open, but that's passed now. We seem to have stabilised there and stocks are trading up as well," one trader said.

Bund futures dipped to a low of 145.45, down 7 ticks on the day, having earlier risen as high as 145.87. Italian 10-year bond yields stood flat on the day at 4.77 percent, reversing an initial rise.

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