January 24, 2013 / 2:00 PM / in 5 years

EURO GOVT-Bunds erase gains after U.S. jobs data

LONDON, Jan 24 (Reuters) - German Bund futures erased the day’s gains on Thursday, dragged down by stronger than expected U.S. jobs data which eased some of the earlier demand sparked by weak French business activity figures.

“The catalyst here for a correction of the Bund move was the U.S. figures. The initial claims that were better than expected,” a trader said.

The Bund future was last 1 tick higher at 143.60 having risen as high as 144.07. U.S. Treasuries also dipped after the data.

The data showed new claims for unemployment benefits fell unexpectedly to a five-year low.

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