[MARKET ANALYSIS] T-notes futures retreated as yields rebounded in tandem with oil

USTs: -7 ticks Pulled back overnight as yields rebounded alongside upside in oil and with participants awaiting the FOMC Minutes, while there were recent Fed comments in which Daly voiced strong support for the rate hike in September and kept the door open to further increases, while Schmid said there is still a way to go in beating inflation and that credibility is at stake in the fight against inflation. Bunds: -33 ticks Retreated beneath the prior day's trough as the bounce in energy prices stoked inflationary pressures and with demand also constrained ahead of today's Bund issuance. JGBs: +1 tick Pared opening gains and returned to flat territory following the latest Labour Cash Earnings from Japan, which showed a deceleration, but still printed firmer-than-expected.