Euro debt-Bund future hits contract-high, breaks chart levels
LONDON, Dec 15 (Reuters) - The March Bund future hit a new contract high on Wednesday, after breaking through key technical levels.
The move coincided with news that Germany will sell 213 billion euros of debt in 2005, compared to 226 billion euros in 2004.
"There is a positive momentum in the market and we broke through 119.50, which was a resistance level," said one government bond trader in Amsterdam.
"The German issuance calendar is not a big surprise."
The March Bund future <FGBLH5> was up 25 ticks on the day at 119.56, having hit a contract-high at 119.58.
Germany, known for revealing its issuance plans in detail, said it will be flexible on starting index-linked bond sales.
Berlin said earlier this year that it would issue such bonds in 2005