LONDON Nov 13 German Bund futures rose on
Tuesday after international lenders stopped short of disbursing
Greece's next aid tranche, with investors worried about a
potential fiscal crisis in the U.S. as well.
Greece was given two extra years to meet the debt cuts
demanded by its bailout programme, but the euro zone and the
International Monetary Fund clashed over a long-term target date
to shrink the country's debt pile.
Athens will sell one- and three-month T-bills on Tuesday to
refinance a 5 billion euro issue maturing on Nov. 16. Its debt
agency expressed confidence the issue will be fully funded.
Investors were also watching U.S. lawmakers' efforts to
reach a deal on budget cuts and avoid automatic tax hikes and
spending reductions worth about $600 billion next year. The
so-called "fiscal cliff" could send the U.S. back into recession
and hurt the global economy.
"The Greek deal has gone through but there seems to be
opposition from the IMF," one trader said, adding that the U.S.
fiscal cliff was also "a big support for the (Bund) market."
Bund futures were last 12 ticks higher at 143.29,
having reached a two-month high of 143.47 on Friday.
The German ZEW economic sentiment indicator for November
will be released later in the day.