[MARKET ANALYSIS] T-note futures trickled lower amid potential Warsh Fed Chair nomination

USTs: -7 ticks

• Retreated overnight as markets await the Fed Chair pick, which President Trump said will be announced on Friday morning and with the White House said to be preparing for a Warsh nomination, who is viewed as more hawkish than Hassett.

Bunds: -23 ticks

• Continued the gradual pullback from this week's peak but with further price moves contained ahead of a slew of releases from Germany, including Flash GDP, Import Prices, Unemployment and HICP data.

JGBs: +15 ticks

• Edged higher, albeit with price action somewhat choppy amid a slew of data, including softer-than-expected Tokyo CPI data and with participants awaiting the latest 2yr JGB auction.

The T-note futures have dipped as anticipation builds around the potential nomination of Warsh for Fed Chair, perceived as more hawkish. This could lead to market recalibrations around interest rate expectations, affecting fixed income and potentially supporting a stronger USD if confirmed, given the perceived tightening bias it implies.