[MARKET ANALYSIS] T-note futures lack conviction after mixed data, while 10yr JGBs extended on gains after soft wages data
Importance
Level 1
USTs: -2 ticks
- Lacks conviction after the recent indecisive performance amid mixed data releases as ISM Services PMI topped estimates, but ADP Employment and JOLTS Job Openings disappointed, while attention turns to more jobs-related releases scheduled later, including Initial Jobless Claims and RevelioLabs Total US Nonfarm Employment Data.
Bunds: Flat
- Trades rangebound after ultimately gaining yesterday in a choppy environment after German data and supply.
JGBs: +34 ticks
- Extended on the prior day's advances with participants digesting softer-than-expected wages data including a further deterioration in real wages, while participants await a 30yr JGB auction.
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