December 4, 2012 / 8:26 AM / 5 years ago

EURO GOVT-U.S. fiscal concerns lift Bunds

LONDON, Dec 4 (Reuters) - German Bund futures rose on Tuesday on concerns that U.S. budget talks were heading for a deadlock that could trigger recession-inducing fiscal tightening in the world’s biggest economy.

The White House dismissed proposals by Republicans for steep spending cuts, heightening fears that U.S. lawmakers will not reach a deal in time to avert $600 billion in automatic budget measures coming into effect in early 2013.

“There has been some buying of duration from Asia overnight. I sense that the fiscal cliff talks are stalling a bit,” a trader said.

German Bund futures were last up 20 ticks on the day at 142.71, off the session’s low of 142.44.

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