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

Reuters

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

Federal agencies were directed to cut back services afterlawmakers could not break a political stalemate that sparked newquestions about the ability of a deeply divided Congress toperform its most basic functions.

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

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

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