EUROPEAN FIXED INCOME UPDATE: bonds retain underlying bid

Irrespective of seemingly encouraging, if not yet constructive Russia-Ukraine news and rhetoric, core or safe-haven debt futures have rebounded firmly from worst levels against the backdrop of fading gains in equities as one sign of flaky and still cagey risk sentiment. Bunds, Gilts and US Treasuries may also be keeping the downside contained via underlying bids ahead of the weekend, which is a long one for the US, as shorts cover and others maintain a safe-haven base position. The 10 year benchmarks are hovering around 166.00 between 166.31-165.61 parameters, just shy of a new 120.96 Liffe high vs 120.50 low and midway within a 126-22/07 range respectively. Ahead, some data and more Central Bank speak.