[MARKET ANALYSIS] T-note futures gained amid lower oil and softer yields, owing to ceasefire hopes
USTs: +11.5 ticks
- Gained as hopes for a ceasefire in the Iran conflict pressured oil prices and dragged yields lower, while there was little reaction to the latest Fed comments from Barr and Goolsbee, pointing to uncertainty and risks from the Middle East war.
Bunds: +39 ticks
- Climbed higher amid Iran ceasefire hopes, although stalled just shy of near-term resistance at the 126.00 level, while participants look ahead to German IFO data and Bund issuances.
JGBs: +13 ticks
- Tracked the upside in global counterparts, but with gains capped amid a quiet calendar for Japan and with stale minutes from the BoJ's January meeting, which occurred prior to the start of the Iran conflict.
Context
The recent gains in UST and Bund futures signal market optimism driven by ceasefire hopes in the Iran conflict, leading to lower oil prices and yields. This backdrop suggests a search for safety and potential easing of geopolitical risks, which may influence central bank policy expectations going forward.
Trade the TapeGet this analysis live, the moment it breaksNewsquawk's real-time dashboard delivers market-moving headlines and instant context to your desk before the rest of the market reacts.
Open Dashboard#UNITED STATES#USD#EUR#IRAN#GERMANY#JAPAN#JPY#UNITED KINGDOM#GBP#ASIA#EUROPE#BOJ#GEOPOLITICAL#FOREX#FIXED INCOME#ENERGY#METALS#ASIAN SESSION#FEDERAL RESERVE#CENTRAL BANK#T-NOTE#GERMAN BONDS#INFORMATION AND FORSCHUNG#HIGHLIGHTED#WTI#BRENT#COMMODITIES#GOLD#METALS & MINING#MATERIALS (GROUP)#DXY#MARKET ANALYSIS#MARKET UPDATE