December 3, 2012 / 11:56 AM / 5 years ago

EURO GOVT-Bunds reverse gains after Greece reveals buyback plan

LONDON, Dec 3 (Reuters) - German Bund futures reversed earlier gains on Monday as investors dumped them in favour of higher-yielding assets after Greece announced better-than-expected terms for its debt buyback.

Bund futures were last 25 ticks lower on the day at 142.54, having risen as high as 143.05 earlier in the session.

Spanish and Italian bonds rallied, with the Italian/German 10-year bond yield spread falling below 300 basis points for the first time since March.

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