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EURO GOVT-Bunds rise after Spanish vote, Greek hopes limit gains
November 26, 2012 / 7:10 AM / 5 years ago

EURO GOVT-Bunds rise after Spanish vote, Greek hopes limit gains

LONDON, Nov 26 (Reuters) - German Bunds rose at Monday’s open, lifted by worries that a win for separatist parties in a Spanish regional election could shake the country’s political stability, though the prospect of a Greek aid deal limited gains.

Bund futures rose 10 ticks to 142.22, starting out on a positive note after losing ground last week over the growing likelihood that lenders would agree a way to pay out much-needed bailout funds to Greece.

While the Catalonia election result underlined the political difficulties facing Spain’s government, the result fell short of the convincing win needed to mount a push for a referendum on independence for the region.

“The Catalonian election was pretty much expected... but any sign of Europe splitting up isn’t great when they need to be going the other way,” a trader said.

Euro zone finance ministers and the International Monetary Fund will attempt to reach an agreement on how to make Greece’s debt sustainable at a meeting later in the day which markets expect will result in the release of aid money to Athens.

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