[MARKET ANALYSIS] T-note futures attempt to nurse losses after recently bear flattening on oil price pressures

USTs: +5 ticks

• Attempts to nurse losses after recently bear flattening as the return of Brent to above USD 100/bbl further unwound Fed rate cut bets, and with prices not helped by supply, including a 30yr auction which was better than recent averages but not as strong as the stellar February offering, while participants look ahead to the Fed's preferred inflation metric.

Bunds: -19 ticks

• Remains subdued after retreating beneath the 126.00 level amid the oil-triggered inflationary headwinds, and as German wholesale prices loom.

JGBs: -29 ticks

• Tracked the losses in global peers amid price-related concerns and with a 10yr climate transition bond auction due today.