What to Watch: Post ECB Selling, Russia/Ukraine Headlines, CPI

FI markets reversed gains during early London trade, now weaker across the curve -- extending lows after ECB policy annc keeps rates steady but accelerates asset purchase wind down -- concluding in third quarter "If the incoming data support the expectation that the medium-term inflation outlook will not weaken even after the end of our net asset purchases."

• Headline risk over Russia war in Ukraine: no progress on ceasefire talks; RUSSIA CONVEYED WILL CONTINUE ATTACK UNTIL DEMANDS MET, Bbg
• US 30Y yield taps 2.3566% high, currently 2.3433%.
• Cross assets: SPX eminis -45.75 at 4221.0; West Texas Crude (WTI) +4.79 at 113.49; Gold at 2005.45 (+13.56).
• Economic data finally picks up at 0830ET (prior, est):
  • Initial Jobless Claims (215k, 217k)
  • Continuing Claims (1.476M, 1.450M)
  • CPI MoM (0.6%, 0.8%; YoY (7.5%, 7.8%)
  • CPI Ex Food and Energy MoM (0.6%, 0.5%); YoY (6.0%, 6.4%)
  • CPI Index NSA (281.148, 283.692)
  • Later at 1400ET: Monthly Budget Statement (-$310.9B, -$212.0B)
  • US Tsy $20B 30Y Bond auction re-open (912810TD0) at 1300ET
  • Treasury Sec Yellen CNBC interview expected at 1645ET