[MARKET ANALYSIS] T-note futures are rangebound ahead of US CPI data and supply, while 10yr JGBs decline amid further September rate hike bets
Global bond markets are cautious as US CPI data and large auctions in the US and Germany approach, while rising BoJ hike bets press JGBs lower.
News detail
USTs: -0.5 ticks Trades little changed following the prior day's rebound despite continued upside in oil, while price action is contained overnight as participants look ahead to US CPI data and the US 10yr note auction. Bunds: -14 ticks Mildly pulls back after recent whipsawing and with demand contained ahead of German supply. JGBs: -32 ticks Trickled lower amid further BoJ rate hike bets, with money markets now pricing a 59% chance for a hike next month, while the latest 10yr inflation-indexed JGB auction is scheduled today.
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