RTRS: EURO GOVT-Bunds slip, investors look for upbeat economic data
Feb 1 (Reuters) - Bund futures opened lower on Tuesday, taking their lead from a late fall in the previous session for U.S. Treasuries, with manufacturing data from Europe and the United States set to provide the day's focus.
At 0705 GMT, the Bund future FGBLc1 was 29 ticks lower at 123.45, in line with levels seen in after-hours trading.
Equities looked set to make further gains in Europe after a strong finish on Wall Street on Monday as investors switched focus from political unrest in Egypt to upbeat economic and earnings data. [ID:nL3E7D1035] [ID:nLDE70O2DA]
Robust growth in the euro zone manufacturing sector is expected to be confirmed by final readings of January's Purchasing Managers' Index survey.
The Institute for Supply Management U.S. manufacturing sector PMI index, released at 1500 GMT, was also seen adding to a positive growth outlook. "The U.S. ISM is the key data of the day. Data's been doing okay recently and it's another negative that should weigh on the front end in theory," said one trader.
"But we've already got a couple of (interest rate) hikes priced in in Europe, so you could argue we've moved enough for now."
The 10-year German bond yield DE10YT=TWEB was 3.184 percent, up 3.1 basis points while the two-year Schatz yield DE2YT=TWEB was up 2.8 basis points at 1.4 percent.
