Bund futures shrug off U.S. government shutdown in early trade

October 1, 2013

LONDON, Oct 1 (Reuters) - German Bund futures were steady on Tuesday as the U.S. government began a partial shutdown for the first time in 17 years.

Federal agencies were directed to cut back services after lawmakers could not break a political stalemate that sparked new questions about the ability of a deeply divided Congress to perform its most basic functions.

Bund futures, normally seen as a safe haven by investors in times of uncertainty and political nerves, were 2 ticks lower at 140.48.

"The view seems to be that it (the shutdown) will be fairly temporary," one trader said. "I would have thought it would have given us a bit more support than it is doing."