EURO GOVT-Bunds dip after strong start to U.S. earnings season
LONDON, April 9
LONDON, April 9 (Reuters) - Bund futures opened lower on Tuesday, as a strong start of the U.S. company earnings season prompted investors to take profits on safe-haven German debt after a strong rally last week.
Bund futures hit their highest levels since June 2012 on Friday after weaker-than-expected U.S. jobs data and on expectations that the European Central Bank could ease monetary policy later this year to provide further support to the ailing euro zone economy.
U.S. aluminium group Alcoa posted better-than-expected quarterly profit on Monday, denting appetite for low-risk assets.
German Bund futures were 15 ticks lower on the day at 145.93, having risen as high as 146.54 on Friday.
"The danger when you get to these extended levels is that you get a couple of days with no European news and you drift away a bit," one trader said.
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