July 5 (Reuters) – German Bund futures were up half a point on the day at a session peak of 129.81 on Monday as worries swirled about a double-dip recession in the United States and Europe following poor non-farm payrolls data Friday.
But the gains were exaggerated by anaemic volumes in the midst of a U.S. market holiday and a lack of investors in the summer period.
“The focus remains on the double-dip recession expectations for the world economy, although the moves are totally exaggerated by thin volumes,” said Marc Ostwald, a bond strategist at Monument Securities in London.
By 0748 GMT, the September Bund future FGBLc1 was up 42 ticks on the day at 129.73, and shy of resistance at 129.86, the June 29 high. (Reporting by George Matlock)