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EURO GOVT-Bunds fall before Fed and auction on Wednesday
May 21, 2013 / 2:16 PM / 4 years ago

EURO GOVT-Bunds fall before Fed and auction on Wednesday

LONDON, May 21 (Reuters) - Bund futures fell to a session low on Tuesday, with traders citing nervousness before minutes on Wednesday of the latest Federal Reserve meeting and as investors made room for a German bond auction.

Investors will scour Fed Chairman Ben Bernanke’s testimony about the economy before a congressional panel and the minutes from the Fed’s April 30-May 1 meeting for any indication of when the U.S. central bank is planning to start tapering off its bond purchases.

German Bund futures hit a session low of 144.28, down 58 ticks on the day, also one day before Germany issues a new 10-year bond.

“They’re trading a little heavy because a lot of people are getting nervous that the Fed has been more two-way on QE (quantitative easing). We’ve also got some supply (pressure) as well, with ... Bunds to be auctioned tomorrow,” one trader said.

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