LOOK AHEAD: Friday Data Calendar: Import/Export Prices, Fed Speak

Speaking to Bloomberg, German Chancellor Olaf Scholz is asked about the prospect of an EU-US trade war, says that "I'm sure that won't happen" and that he is "working very hard" to prevent one. Also states his views on the German economy, saying “I’m absolutely convinced that this will not happen, Germany going into a recession.”

• On the increasing pressure from allies to send/allow the sending of main battle tanks to Ukraine, Scholz says his gov't is seeking to support Ukraine "with all the means we can use, but also always avoiding that this war is escalating to a war... between Russia and NATO."
• Asked on EU-UK relations, Scholz says "I am confident that we will have very good cooperation with the UK", adds that the country is a partner and it should not receive "punishment" for leaving the EU.
• On China and Asia ha says the world should not move towards deglobalisation just because of tensions with China, states that "The rise of Asia is not just happening in China, [the continent has] many strong nations."

European stocks have mostly reversed gains made after the Bloomberg dovish ECB article - but Bunds have maintained their rise, with the Mar23 future up 76 ticks since the headline at 139.20.

• That's off the 139.66 session high, but up 99bp on the day. And the 139.09 (the Jan 12 high) bull trigger identified by our tech analyst has been triggered, with next upside target 140.00.