German Bunds surge on Russia, Ukraine tensions

LONDON, March 3 Mon Mar 3, 2014 2:13am EST

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LONDON, March 3 (Reuters) - German Bund futures surged on Monday after Russian President Vladimir Putin declared the right to invade Ukraine at the weekend, spurring investors to shun high-risk assets in favour of safe havens.

"The Ukraine situation got severely worse over the weekend and that's enough to get the market going. That's the only game in town for now ... With this going on we might get some flight to quality," a trader said.

The Bund future was last 56 ticks up at 144.94 compared with 144.38 at Friday's settlement, with German 10-year yields 5 basis points down at 1.58 percent.

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