LONDON Oct 2 German Bund fell to the day's lows
on Wednesday after European Central Bank President Mario
Draghi's comments were not as dovish as some in the market had
German Bund futures fell as far as 139.96, down 30
ticks on the day, while Euribor futures turned lower
across the 2014-2017 strips.
"It's about what he hasn't said rather than what he said,"
one trader said. "He's not being overly dovish. He hasn't
expressed concerns about the strength of the euro, he hasn't
flagged an imminent LTRO (long-term refinancing operation),
The December 2014 contract, the most liquid on
Wednesday, briefly fell to 99.485. It had stood at 99.515 before
Draghi's news conference.