LONDON Nov 30 German Bund futures were broadly
unchanged at Friday's open, consolidating towards the top of the
recent range after a turbulent week of trading, with technical
charts pointing to a fresh rise.
A deal agreed earlier this week to release aid funds to
Greece had dented the appeal of safe-haven Bunds before doubts
about the plan, and broader concerns about crucial budget talks
in the United States, resurfaced to help Bunds recover losses.
The Bund futures contract was 1 tick higher at
142.85, well above Tuesday's low of 141.84 and below the Nov. 13
high of 143.48. Technical charts showed support at 142.62, the
mid-point of Tuesday's steep selloff.
"As long as 142.62 is support we're happy bulls and
expecting an assault on 143.48," said Futurestechs technical
analyst Clive Lambert.
Investors hungry for higher yielding debt have piled into
the euro zone's peripheral markets this week pushing Italian
10-year bonds yields briefly to a two-year low, but after such
sharp moves traders saw limited room for a further rally Friday.
"Yesterday morning (peripheral debt) went off to a flyer and
then gave it all back in the afternoon. It's had a good week but
I still don't think we're out of the woods," a trader said.