[MARKET ANALYSIS] 10yr JGBs tracked the declines in global counterparts as rising energy prices stokes inflationary pressures

USTs: +4 ticks

• Rebounded off the prior day's trough amid the risk-off mood, but with the recovery limited after recent firm ISM data and as the surge in energy stokes inflationary concerns.

Bunds: -10 ticks

• Languishes at the prior day's lows after sliding beneath the 130.00 level as European natural gas prices surged by as much as 50%, while participants look ahead to EU HICP data and German supply.

JGBs: -59 ticks

• Declined amid a higher yield environment as the conflict surrounding Iran and closure of the Strait of Hormuz adds to the global inflationary pressures, while price action is also not helped by a looming 10yr JGB auction.