FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The Australian long-term bonds slumped on Monday as risk appetites pick up following an oil price rally. The benchmark 10-year bonds yield, which is inversely propositional to bond price rose 0.58 pct to 2.419 pct and 3-year bonds yield jumped 0.55 pct to 1.837 pct at 5:30 GMT.
Oil prices rose on Monday, extending a sharp rally seen at the end of last week after a drop in U.S. inventories and drilling, while outages and hopes that exporters could freeze output also supported prices. The International benchmark Brent futures rose 0.45 pct to $42.13 and West Texas Intermediate (WTI) jumped 0.28 pct to $39.83 by 5:30 GMT.
“Crude oil prices had risen sharply, by more than 6 pct, dampening demand for safe-haven assets and the movements in oil prices appear to be having a significant influence on sentiment in financial markets", said ANZ economists.
"Recent moves higher have been driven by lower US output and some hope major producers can reach an agreement on April 17 to freeze output." they added.
Meanwhile, the market will primarily focus on the upcoming unemployment figure on Thursday.
