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EURO GOVT-Bunds fall along with Treasuries, euro zone PMI eyed
December 14, 2012 / 7:21 AM / 5 years ago

EURO GOVT-Bunds fall along with Treasuries, euro zone PMI eyed

LONDON, Dec 14 (Reuters) - German Bund futures fell on Friday as U.S. Treasuries slid overnight after lacklustre 30-year auction and after a strong Chinese manufacturing survey helped stocks.

The recent progress towards a crisis resolution in Europe was also capping the upside for safe-haven debt, analysts said, even though Bunds would continue to benefit from an impasse in U.S. talks aimed at avoiding a fiscal crisis.

European leaders agreed to press on with further steps to shore up their finances and sustain momentum in tackling the debt crisis on Friday, a day after clinching a deal on banking supervision and approving long-delayed aid to Greece.

German Bund futures were down 32 ticks on the day at 144.74.

“I am a bit cautious on the Bund because I think there are important decisions taken in Europe,” Piet Lammens, strategist at KBC said. “On the fiscal cliff things are less clear at this juncture so (it is) a fight between various influences.”

Analysts would look to euro zone manufacturing survey later in the session for fresh insight into the health of the global economy.

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