LONDON Feb 15 German Bund futures opened higher
on Friday as a rise in U.S. Treasuries overnight fed a rally
fueled by poor euro zone growth data in the previous session.
Currencies will feature high on the agenda of a Group of 20
nations meeting and hosts Russia say the G20 will back the
thrust of a G7 text which reaffirmed a commitment to floating
exchange rates. But analysts expect little impact from the
meeting on the bond market.
In the absence of major data in Europe this session,
technical analysis could dominate trade. Investors will also
look to industrial output numbers in the United States for
insight into the health of the world's largest economy.
"It is a bit of technical trading," Rainer Guntermann,
strategist at Commerzbank said. "Bunds we think could continue
to trade supported going into the weekend. The overnight
momentum should also be supportive, Treasuries have been
trending higher a bit."
Bund futures rose 21 ticks to 142.80, having
rallied half a point on Thursday after official numbers showed
the euro zone fell deeper into recession than expected in the
fourth quarter of 2012.
U.S. bond prices also drew strength in Asian trade from a
strong result at a 30-year bond auction.