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.