February 14, 2013 / 7:16 AM / 5 years ago

EURO GOVT-Bund selloff curbed by weak GDP data

LONDON, Feb 14 (Reuters) - German bond futures were steady on Thursday, stabilising after a fall in the previous session as growth data from the region’s two largest economies came in weaker than forecast.

Both German and French gross domestic product data for the final quarter of last year came in slightly below expectations.

That lent support to the safety bid for German Bund futures which were 3 ticks higher on the day at 142.08, with analysts targeting a further rise if remaining data comes in weak.

“(It) requires a substantial upside surprise at today’s GDP release to induce the market to further increase its growth projections. On balance Bunds might thus benefit if the release falls short of consensus expectations,” Commerzbank strategists said in a note.

The Italian number is due at 0900 GMT followed by the figure for the whole euro zone at 1000 GMT. The data is expected to show the bloc contracted 0.4 percent in the last quarter of 2012.

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