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The bond markets have massive liquidity so that's seldomly an issue. Bonds move inversely to interest rate expectations so anything that increases the likelihood of rate increases (particularly higher inflation) will lower the price of bonds so there's big volatility around key economic releases like CPI and NFP. There are no internals as such because the underlying is a single instrument rather than an index. The only "internal" is interest rate expectations. The shorter term instruments are more responsive to economic news than longer term instruments. Consider CME Eurodollar for short term interest rates. Also there are bond futures for all countries so you might want to trade the Japanese 10 year bond or the German Bund.