January 24, 2014 / 7:31 AM / 4 years ago

Bunds track U.S. Treasuries higher on U.S., China concerns

LONDON, Jan 24 (Reuters) - German Bund futures pushed higher on Friday, tracking gains overnight in U.S. Treasuries after weak U.S. and China data triggered concerns about global growth.

Weaker stock markets also underscored the still-fragile nature of the global economic recovery, supporting demand for higher-rated government debt.

“The squeeze higher (in Bunds) from yesterday continues with U.S. yields (falling) and it may be to do with economic concerns after the China and U.S. data yesterday. Cashflows are quite positive next week and it seems the(Bund) market is a bit short,” a trader said.

The Bund future was last 28 ticks up at 142.32 compared with 142.04 at Thursday’s close. French bond futures also headed higher, last 15 ticks up at 133.64 ahead of an expected review of the country’s ratings by Moody‘s.

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