Bunds fall as Draghi not as dovish as some expected

Reuters

LONDON, Oct 2 (Reuters) - German Bund fell to the day's lowson Wednesday after European Central Bank President MarioDraghi's comments were not as dovish as some in the market hadexpected.

German Bund futures fell as far as 139.96, down 30ticks on the day, while Euribor futures turned loweracross the 2014-2017 strips.

"It's about what he hasn't said rather than what he said,"one trader said. "He's not being overly dovish. He hasn'texpressed concerns about the strength of the euro, he hasn'tflagged an imminent LTRO (long-term refinancing operation),etc."

The December 2014 contract, the most liquid onWednesday, briefly fell to 99.485. It had stood at 99.515 beforeDraghi's news conference.

View Comments (0)