[MARKET ANALYSIS] T-note futures are little changed amid quiet newsflow for the US outside of geopolitics

USTs: -1.5 ticks T-note futures little changed amid relatively quiet newsflow from the US outside of geopolitics, although there were comments from Fed officials on Friday with Logan (2026 voter) stating that at least two more 25bps rate hikes are needed but a pause following 50bps of tightening would make sense to assess the need for further action, while Musalem (2028 voter) said the Fed would need to raise rates again 'soon', arguing that earlier action would reduce the risk of broader economic damage whilst inflation remained too high and that it was unlikely to ease without further central bank action. Bunds: -7 ticks Marginally softened amid a lack of pertinent catalysts and following the unrest that erupted in Frankfurt, where rioters looted stores on Saturday after tens of thousands of demonstrators took to the streets across Germany's major cities, calling for better education and lower living costs. JGBs: -14 ticks Pulled back from last Friday's post-BoJ highs ahead of today's 5-year Japan Climate Transition Bond auction.