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EURO GOVT-Bunds erase gains as ECB rate cut eyed
May 2, 2013 / 8:07 AM / 5 years ago

EURO GOVT-Bunds erase gains as ECB rate cut eyed

LONDON, May 2 (Reuters) - German Bund futures reversed gains on Thursday as some investors booked profits from a market rally near record highs this week before a European Central Bank rate decision later in the day.

The ECB is expected to cut its main refinancing rate by 25 basis points to a record low of 0.5 percent after its policy meeting on Thursday. Traders said the Bund market already anticipated such a cut so was vulnerable to profit-taking.

Bund futures were last 17 ticks lower on the day at 146.41.

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