They opened at weaker footing, shrugged off the February drop in construction activity. They turned out after dovish Trichet’s comments. Nevertheless, the rebound was short-lived. Thus the bonds closed weaker sending 10-year yield 2 bps higher. Today’s CNB minutes hardly brings something what strikes the market. Therefore all eyes might be again at core markets. We put the risk the bonds may continue to lose. Decisive will be U.S. payrolls. The market might be thin as investors wait for fresh inflation data due on Monday.