Bund futures sag on signs of progress in U.S. budget talks
LONDON Oct 10 (Reuters) - German Bund futures fell at the open on Thursday, tracking Treasuries lower as signs of some progress in the United States over breaking a budget impasse lifted equity markets at the expense of low-risk assets.
U.S. Republicans were considering a short-term hike in the government's borrowing authority to buy time for talks on broader policy measures, a Republican leadership aide said on Wednesday. President Barack Obama has said he would accept a short-term ceiling increase as long as no strings were attached.
"We're being led by developments in the States, there's talk of a short-term debt deal that's why we are down, and we are taking the lead from Treasuries," a trader said.
Bund futures were last 41 ticks down at 139.83 with German 10-year yields 3 bps higher at 1.85 percent. The U.S. 10-year T-note yield was up 4 bps at 2.70 percent.
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