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EURO GOVT-Bunds rise, focus falls on U.S. payrolls
June 7, 2013 / 6:21 AM / 4 years ago

EURO GOVT-Bunds rise, focus falls on U.S. payrolls

LONDON, June 7 (Reuters) - German Bunds rose on Friday but trade was expected to be choppy as investors looked to U.S. jobs data this session for fresh clues into the Federal Reserve’s thinking.

Analysts will scour the data to see how fast the labour market is picking up in the world’s largest economy, amid concerns the U.S. central bank may soon begin scaling back its bond-buying programme.

The United States probably added 170,000 jobs last month, with the unemployment rate holding steady at 7.5 percent, according to a Reuters survey of economists.

German Bund futures rose 53 ticks to 143.98. U.S. Treasury prices edged slightly higher overnight as a drop in the dollar against the yen boosted demand for U.S. government debt.

Bunds also rebounded from a fall in the previous session when European Central Bank President Mario Draghi provided no hints that further monetary easing was imminent.

“I think we have got to see (payrolls) numbers above 200,000 on a consistent basis to start really unnerving markets” regarding the possibility of Fed tapering, one trader said.

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