[MARKET ANALYSIS] T-note futures take a breather after climbing reversing the post-FOMC drop, while JGBs climb following soft CPU data as BoJ looms

USTs: +1.5 ticks Pauses overnight after yesterday's bull flattening and reversal of the post-Fed move, as Fed credibility received a boost following Wednesday's rate hike. Bunds: + 5 ticks Price action is range-bound after its recent mild rebound and with a lack of major catalysts for the bloc, while rhetoric from ECB officials provided little to shift the dial. JGBs: +36 ticks Climbed higher as it tracked the recovery in global peers and with upside also facilitated by softer-than-expected Japanese CPI data, while attention turns to the BoJ, which is widely expected to hike rates.