EURO GOVT-Bunds briefly dip but remain supported as equities fall

LONDON Thu May 23, 2013 3:53am EDT

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LONDON May 23 (Reuters) - German Bund futures briefly dipped as German business activity data came broadly in line with expectations but rebounded as riskier assets remained weak on concerns the Federal Reserve could reduce its economic stimulus.

German Bund futures fell to a session low of 144.54 but were last up 5 ticks on the day at 144.66 as riskier equity markets remained low.

Lower-rated euro zone bonds came under selling pressure with the Italian government bond yield rising 5.3 basis points to 3.98 percent and the Spanish equivalent up 3.7 bps at 4.22 percent.

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