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Bunds erase gains after Draghi says lower bound in rates reached
September 4, 2014 / 1:16 PM / in 3 years

Bunds erase gains after Draghi says lower bound in rates reached

LONDON, Sept 4 (Reuters) - German Bund futures erased gains on Thursday after European Central Bank President Mario Draghi said markets should not expect further interest rate cuts.

Bund futures last traded 6 ticks lower at 150.78, off the day’s high of 151.49.

“The market is reacting to the comments about having reached the lower bound, that he is signalling that this is the end of the rate cuts. That’s leading to some profit taking,” one trader said.

Ten-year German yields were last 0.5 basis points higher at 0.96 percent, off earlier lows of 0.904 percent. (Reporting by Marius Zaharia and Emelia Sithole-Matarise; Editing by Emelia Sithole-Matarise)

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