EURO GOVT-Bunds fall on stress test results

LONDON, July 23 (BestGrowthStock) – German Bund futures fell to
one-month lows and Euribor interest rate futures dipped on
Friday as euro zone banking stress tests results showed 7 banks
failed to meet the required capital standards.
Bund futures (FGBLU0: ) broke below the bottom of the recent
128.18-129.54 trading range to hit a one-month low of 127.86 in
after-hours trading, down 83 ticks on the day.

But they then pared losses and were last at 128.12.

Commerzbank shares (CBKG.DE: ) briefly extended gains in after
hours trade (CBKG.F: ), up 3.15 percent before pulling back to
stand up 2.67 percent, the same level as before the results.

“There’s not much confidence in the stocks. They tried to
rally and that’s when Bunds came off, and now they are suddenly
selling stocks,” said a bond trader.

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EURO GOVT-Bunds fall on stress test results