[MARKET ANALYSIS] T-note futures gained as the drop in oil eases inflationary pressures, but with further gains capped amid the closure of US cash markets on Monday

USTs: +18.5 ticksT-note futures rallied as the lower oil prices eased inflationary pressures, although further upside is capped beneath the 110.00 level, with US cash markets closed for the Memorial Day holiday.Bunds: +53 ticksClimbed higher and tested the 126.00 level as asset classes remained heavily driven by geopolitics.JGBs: +42 ticksRose alongside the declines in oil and with prices unfazed by looming supply in the form of a five-year climate transition JGBs auction scheduled later.