[MARKET ANALYSIS] T-note futures take a breather after gaining post-CPI and with US cash markets closed on Monday for Washington's Birthday

USTs: +0.5 ticks

• Trades little changed and holds on to last week's spoils after returning to above the 113.00 level in the aftermath of the softer US inflation data, while price action is restricted by the closure of US cash markets on Monday for Washington's Birthday.

Bunds: -14 ticks

• Lacks demand in the absence of any major catalysts and with light newsflow from the bloc.

JGBs: +9 ticks

• Trades marginally higher following disappointing preliminary GDP data for Q4, but with gains limited after failing to sustain a brief reclaim of the 132.00 level.

The T-note futures are holding steady after last week's rally fueled by softer US inflation data, reflecting a cautious market given the closure of US cash markets for Washington's Birthday. This stability suggests that traders are awaiting further catalysts to drive sentiment, while recent data might have implications for Fed policy and interest rates moving forward.