A non-descript, range bound Asia session......>

BUNDS: A non-descript, range bound Asia session for German FI futures, with

little to report as we approach European hours. ECB's Vasle noted that the

Eurozone economy remains "on track" in a BBG interview, as he supported the

Bank's March projections of a H219 economic pickup, and noted that the Governing

council will likely discuss TLTROs in 2 weeks. Schatz -0.5 tick, Bobls -2.0

tick, Bunds -2 ticks.

- As a reminder, weak Eurozone data was compounded by poor U.S. data on

Thursday, pushing core EGBs higher. ECB minutes didn`t really get much traction,

with no surprises. Mkt focus was on deferred decisions on TLTRO III terms and

mitigation of negative interest rate impact.

- A modest uptick in risk assets in late NY hours helped Bunds back from best

levels (U.S. President Trump noted that he expects a "quick" trade deal with

China. Trump also noted that his administration's blacklisting of Chinese

telecom giant Huawei could become a bargaining chip in trade negotiations with

China).

- Focus today moves to an address from ECB's Nowotny & EU elections.