German Bund futures erase gains after drop in U.S. jobless claims

2014-10-10

Oct 9 (Reuters) - German Bund futures erased daily gains on Thursday as a drop in jobless claims in the U.S. further underlined an economic recovery that is key to convincing the Federal Reserve to raise interest rates.

German Bund futures were flat on the day at 150.20, having earlier been as high as 150.78. Ten-year cash bond yields also briefly moved higher on the day, having hit a record low of 0.859 percent in early trading.

"We've been tracing back over the past couple of hours - we've had better U.S. data, we've hit new contract highs (in Bund futures) and we have a bit of profit taking ... and there is a bit of a supply in the U.S. as well. The move is being led by Treasuries," one trader said.