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German Bunds track U.S. Treasuries lower on Fed outlook
December 27, 2013 / 7:11 AM / 4 years ago

German Bunds track U.S. Treasuries lower on Fed outlook

LONDON, Dec 27 (Reuters) - German Bunds opened lower on Friday, tracking weakness in top-rated U.S. debt which has been under selling pressure after the Federal Reserve said last week it will shrink its bond-buying stimulus programme.

The Fed’s move was prompted by signs that the U.S. economic recovery was gathering momentum, and data on Thursday showed a fall in U.S. jobless claims and a rise in holiday retail sales.

Bund futures were last 27 ticks lower at 139.48. In the United States, 10-year T-note yields were flat at just below 3 percent, having risen more than half a percentage point in the past two months.

“Bonds are not particularly popular at the moment, especially in the U.S.,” one trader said.

Traders expected low volumes due to the year-end holidays.

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