[MARKET ANALYSIS] T-note futures faded early gains as higher oil prices increase inflationary pressures

USTs: -2 ticks

• Saw early haven demand but failed to sustain gains and returned to relatively flat territory as higher oil prices increase inflationary pressure.

Bunds: +6 ticks

• Faded the majority of initial gains after printing a fresh YTD peak, but with the pullback limited and with participants looking ahead to German Retail Sales.

JGBs: +15 ticks

• Remains afloat but is off the initial highs with prices back beneath the USD 133.00 level as asset classes return from the extremes seen at the open.