EUROPEAN FIXED INCOME UPDATE: bonds off best levels, but still firmly bid

Tuesday’s summits may be too high up for debt futures to revisit without another rout in risk assets, but pre-weekend positioning looks set to keep dip buyers engaged given the ongoing Russian advance in Ukraine that shows no sign of stopping or even pausing. Indeed, Bunds are back above 170.00 between 169.17-170.70 extremes and Gilts are hovering just under 125.00 having carved out 125.26-124.63 boundaries, while US Treasuries are holding mid-range following their nuclear fuelled spike overnight. In terms of the pm agenda, NFP naturally dons headline status, though the BLS report may only prove to be a temporary distraction.