LONDON, July 17 German Bund futures were up in
tight ranges on Wednesday with investors reluctant to place big
bets before testimony by Federal Reserve Chairman Ben Bernanke
Bernanke is expected to balance a message of enduring
central bank support for the U.S. economy with a reminder that
the Fed's ultra-easy policies cannot last forever.
Concerns over when the U.S. central bank may start
withdrawing monetary stimulus has unnerved financial markets in
German Bunds were 10 ticks higher on the day at
143.79. The market also absorbs German 10-year bonds later this
"In the U.S., yields have come off their highs but not very
much, so I suspect the market is still a bit short going into
that speech which would mean that if Bernanke is very dovish ...
then we can get further reaction down in yield terms of the
Treasuries and by association also for the Bund," Piet Lammens,
strategist at KBC said.