Bunds rebound after German sale but lower on BoE

LONDON, July 17 Wed Jul 17, 2013 5:45am EDT

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LONDON, July 17 (Reuters) - Bund futures pared losses on Wednesday after an auction of 10-year German paper attracted decent demand.

German Bunds were down 16 ticks on the day at 143.53, having hit a session low of 143.44 before the auction results were released.

Bunds hit the day's lows, tracking a fall in UK gilts, after minutes from the latest Bank of England policy meeting showed all policymakers had voted against further asset purchases.

"The auction went OK, it wasn't exciting but we're recovering a bit," one trader said. "The only thing today was the 9-0 vote in the BoE minutes." He said the reaction had been limited because markets were range-bound before Federal Reserve Chairman Ben Bernanke's testimony to Congress.

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