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EURO GOVT-Bunds erase losses as German data reassessed
February 19, 2013 / 11:06 AM / 5 years ago

EURO GOVT-Bunds erase losses as German data reassessed

LONDON, Feb 19 (Reuters) - Bund futures reversed losses on Tuesday as market participants reassessed German investor sentiment data which showed current conditions deteriorated in February, though expectations of a recovery rose more than expected.

Bund futures were last 12 ticks up on the day at 142.88, recovering from a session low of 142.61 hit after the data.

Bunds had fallen earlier after the German ZEW economic sentiment index rose to 48.2 in February, its highest since April 2010 and better than the 35.0 forecast but the current conditions gauge was down at 5.2 points from 7.1.

“People just saw the headline figure was much stronger than expected and only the second glance revealed that the current situation had deteriorated,” said Marius Daheim, a rate strategist at Bayerische Landesbank.

“The knee-jerk euphoria dissipated very quickly and Bunds have rebounded.”

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