German fixed income futures drew support......>

BUNDS: German fixed income futures drew support from the broader risk-off flows

apparent in Asia-Pacific trade, with Bunds last 12 ticks higher, Bobls 6 ticks

higher and Schatz 1 tick higher, with the contacts at/near highs as we head into

European trade. Volumes remain somewhat limited. However, modest Schatz flow was

noted in the early part of the session: DUH9 paper paid ~2.7K over a couple of

clips.

- As a reminder the ECB ended its net asset purchases at Thursday's monetary

policy meeting, made slight downward adjustments to its economic growth

forecasts, and indicated that although the risks to the economic outlook are

balanced these risks are shifting to the downside.

- Elsewhere, Italy & the EU are seemingly converging re: budget matters, while

the Bank of France trimmed its GDP outlook for 2018/19 late Thursday.

- Focus today turns to EZ flash PMI data, as well as a plethora of ECB rhetoric.