Candriam stays modestly positive on Bunds, while preferring duration to non-core spread exposure, Nicolas Jullien, global head of fixed income says in a note. Bund yields marginally above 3% "still offer some value, especially in a scenario in which geopolitical tensions ease and oil prices retrace," he says. Conversely, an adverse energy shock could push yields back toward recent highs, so the position remains measured, Jullien says. He adds that the oil price remains the dominant driver of euro rates. The 10-year Bund yield last trades at 2.854%, up 0.4 basis points, according to Tradeweb.(emese.bartha@wsj.com)