GERMAN BONDS BARELY CHANGED IN QUIET PRE-BOURSE
Prices of public authority bonds were
barely changed in quiet pre-bourse trading, with some foreign
investors taking profits but others opening fresh positions.
    Dealers said long maturities fluctuated between gains and
losses of around 10 pfennigs. Today's slight drop in the value
of the dollar and yesterday's modest gains on U.S. Credit
markets had little impact on business here.
    Domestic investors remained sidelined ahead of the G-7
meeting this week. Dealers said today's quietness was also a
technical reaction to recent sharp gains.
    Mark eurobonds were little changed in thin trading.
    The six pct 1997 federal government loan stock fell 10
pfennigs to 103.20, 103.45. The 5-3/4 pct 1997 bond for the
same address eased five pfennigs to 101.25, 101.50.
    Yields of mortgage and municipal paper eased one to two
basis points in thin trading. 10-year yields fell to 6.26 pct
from 6.28 and five-year yields declined to 5.13 pct from 5.15.
    In mark eurobonds, the 5-1/2 pct 1992 East Asiatic offer
was unchanged at 98-1/4, 98-1/2. Ireland's 6-1/2 pct 1997 bond
was steady at 98-1/2, 99.
    Syndication managers said one new issue could be launched
during the European afternoon.
 REUTER
