[MARKET ANALYSIS] T-note futures are contained following recent steepening and as key US jobs data looms

USTs: -1.5 ticks

• Lacks conviction after the prior day's choppy performance and steepening, as Fed Chair Warsh stuck to the script and offered few fresh hawkish surprises, while participants await the incoming US jobs data.

Bunds: -18 ticks

• Remains subdued after recent oscillations through the 127.00 level and slew ECB rhetoric, with many suggesting a lack of urgency to adjust rates this month.

JGBs: -14 ticks

• Lingers at a three-week low amid recent upside in yields and intervention risks, while participants also await the latest 10yr JGB auction.