[MARKET ANALYSIS] T-note future are subdued following recent curve flattening and mixed geopolitical headlines
USTs: -5 ticks
- Retreated after the prior day's curve flattening as front-end yields rose on higher oil prices and amid mixed geopolitical reports.
Bunds: -39 ticks
- Fell to a weekly low with pressure seen as oil prices initially rallied and with prices not helped by recent supply and Germany downgrading its growth forecasts.
JGBs: +5 ticks
- Price action was choppy alongside fluctuations in oil and with a lack of tier-1 data for Japan.
Context
The subdued activity in T-note futures reflects a recent curve flattening driven by rising front-end yields influenced by higher oil prices and mixed geopolitical news. This comes amid pressures from Bunds, which are down due to falling prices and downbeat growth forecasts from Germany, indicating potential headwinds for global fixed income and risk sentiment. Traders should watch for further shifts in yields as geopolitical developments and commodity prices unfold.
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