RTRS:EURO GOVT-Bunds steady, markets cautious on U.S. jobs data
Nov 2 (Reuters) - German Bund futures were steady on Friday, remaining locked in their recent range as many investors shied away from taking large positions ahead of U.S. jobs data later in the day.
Uncertainty over the looming U.S. election result, which could have a material impact on euro zone bond markets, has discouraged investors from building up large bets on a price rise or fall based on the closely-watched non-farm payrolls.
"For U.S. Treasuries and Bunds to show any discernable moves at all prior to the U.S. elections, obviously a decent surprise from the data front would be required," said Commerzbank strategists in a note to clients.
The payrolls data is due at 1230 GMT, and Reuters polls show the market is expecting an addition of 125,000 jobs in October.
The December Bund contract was 4 ticks lower at 141.67, within the 142 to 141.18 trading range seen over the last three sessions which were affected by holidays in Europe and the storm that shut U.S. markets on Monday and Tuesday.