Market Analysis

[MARKET ANALYSIS] T-note futures are stuck near contract lows after recent upside in oil and multi-decade low jobless claims

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Global bond markets are selling off as multi-decade low US jobless claims and $100+ oil prices heighten inflation fears, fueling expectations for further rate hikes from the Fed, ECB, and BoJ.

News detail

USTs: FlatT-note futures are stuck near contract lows after Treasuries were sold off across the curve and yields advanced alongside higher oil prices, while jobless claims fell to a multi-decade low.Bunds: +8 ticksBund futures are off yesterday's worst levels but with the rebound limited amid oil-related inflationary pressures and with a source report suggesting ECB officials are ready to hike rates again in September.JGBs: -32 ticksRemains pressured after trickling lower throughout the week amid higher oil prices and source reports that suggested the BoJ is open to a faster pace of hikes, while the latest Japanese CPI data printed in-line with expectations and showed an acceleration in the headline and core YY figures.

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