[MARKET ANALYSIS] Treasury futures retreated and yields climbed as higher oil prices stoke inflationary concerns

USTs: -9 ticks

• T-note futures retreated with the focus on geopolitics and as the surge in oil prices stoked inflationary concerns.

Bunds: -39 ticks

• Fell beneath the 125.00 level as the latest geopolitical developments propelled EU gas futures higher by double-digit percentages.

JGBs: -30 ticks

• Conformed to the downside in global peers with Japan's 10yr yield rising to its highest since 1997 shortly after the reopening, although JGB futures are off their worst levels as the higher oil prices, dampening effects on the economy and inflationary fears muddle the outlook for BoJ policy.