July 19, 2013 / 11:51 AM / 5 years ago

Bunds hit day's low after China rate reform

LONDON, July 19 (Reuters) - German Bunds fell to session lows on Friday after China’s central bank said it would relax controls on bank deposit rates but that this would be carried out gradually.

The move is seen boosting China’s economic growth, prompting investors to sell safe-haven assets.

German Bund futures fell to a session low of 143.99, 24 ticks lower on the day.

“It seems to be triggered by this Chinese move that they are making monetary conditions a bit easier,” a trader said. “That’s providing a bit of support for equities and we have only seen this selling (in Bunds) come in in the last hour or so.”

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