Bonds are on the back foot early.......>

BOND SUMMARY: Bonds are on the back foot early Friday as global equities rebound

following Thursday's massive U.S. stock reversal, and ahead of U.S. payrolls.

- Mar 19 Bund future is down 31 ticks at 163.24, near day's low of 163.20.

Periphery EGB spreads are narrowing as risk-on returns.

- Meanwhile, Mar 19 BTP futures up 51 ticks at 123.37. Main headlines Friday

have been denials that Fin Min Tria is set to leave his role as had been

reported by Italian press earlier.

- US Tsys largely unchanged after clawing back early losses: the Mar 19 T-Note

future is flat at 120-13, having traded in a range of 120-075 to 120-16.

- JGBs up slightly, futures 4 ticks higher at 151.81. BoJ Gov Kuroda pointed to

the continued need for current levels of monetary easing for a second day.

- Mar 19 Gilt futures down 29 ticks at 123.44; PM May said looking to delay a

seemingly ill-fated Brexit withdrawal vote in Parliament set for Tuesday.

- US nonfarm payrolls dominate today's data releases (cons. 198k, 3.7% unemp).

- Fed's Brainard speaks in Washington at 1715GMT; this follows comments late

Thurs by Fed's Powell & Williams pointing to a relatively strong U.S. economy.