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Bonds Bounce on Russia Withdrawal Headlines Too

US TSY FUTURES
Still off overnight highs, 30Y Bond extends recent bounce to session highs following Russia/Ukraine headline the former planning on withdrawal from city of Kherson, see 0914ET bullet. Debatable as a trigger, stocks bounced off lows as well are trading weaker again: (ESZ2 -35.00 at 3800.25).
  • Unrelated Bbg headline around same time: PUTIN TO SKIP GROUP OF 20 SUMMIT IN INDONESIA NEXT WEEK, unlikely to have contributed to FI/EQ bounce.
  • Markets remain skittish for a number of reasons including lack of definitive results from US midterm elections, no clear leader for control of Congress as yet;
  • Many remain sidelined ahead Thursday's CPI data (prior, est): MoM (0.4%, 0.6%); YoY (8.2%, 7.9%); CPI ex-food and energy MoM (0.6%, 0.5%); YoY (6.6%, 6.5%).
  • Rate locks and pre-auction short sets ahead corporate and Tsy issuance weighed on rates on the open: Pick-up in corporate issuance: GE Healthcare 6-part jumbo rumored appr $8B total, in addition to today's $35B 10Y note sale.
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