Bunds fall as Draghi not as dovish as some expected

LONDON Wed Oct 2, 2013 9:11am EDT

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LONDON Oct 2 (Reuters) - German Bund fell to the day's lows on Wednesday after European Central Bank President Mario Draghi's comments were not as dovish as some in the market had expected.

German Bund futures fell as far as 139.96, down 30 ticks on the day, while Euribor futures turned lower across the 2014-2017 strips.

"It's about what he hasn't said rather than what he said," one trader said. "He's not being overly dovish. He hasn't expressed concerns about the strength of the euro, he hasn't flagged an imminent LTRO (long-term refinancing operation), etc."

The December 2014 contract, the most liquid on Wednesday, briefly fell to 99.485. It had stood at 99.515 before Draghi's news conference.

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