[MARKET ANALYSIS] T-note futures are little changed after recent declines and curve flattening as prospects of US-Iran talks faded

USTs: +0.5 ticksTrades little changed after recent declines and curve flattening as prospects of US/Iran talks faded ahead of the ceasefire deadline, although Trump later announced to extend the ceasefire, despite the collapse of planned talks in Islamabad. Furthermore, there were several data releases, including better-than-expected Retail Sales, which was driven by a large jump in petrol prices, while participants now look ahead to a 20yr auction stateside.Bunds: -8 ticksRemains lacklustre after slipping back beneath the 126.00 level and with Bund issuances scheduled later.JGBs: -21 ticksTracked recent downside in global peers, while the latest trade data also showed stronger-than-expected Japanese exports and imports.