[MARKET ANALYSIS] Fixed income rangebound ahead of next week's central bank decisions

UST Futures rotate in a tight 3 tick range as markets digest the latest geopolitical updates, with the 10yr yield currently trading at 4.33%. The nearest level that could provide some near-term resistance lies at 4.35%, while downside to 4.25% could be seen ahead of the Fed rate decision next week.
Bund Futures, similarly, oscillates in a narrow range ahead of the German IFO survey. German debt found support at the 125 handle as the 10yr yield hit 3.05%, ahead of an ECB policy meeting in which the Governing Council is expected to hold rates at 2.0%.
JGB Futures briefly topped above the 130 handle before trickling lower. Hotter CPI and Services PPI failed to drive Japanese debt, with the BoJ nearly fully pricing in a hold at next week’s policy meeting.