[MARKET ANALYSIS] T-note futures are rangebound ahead of US CPI and looming supply

USTs: -2 ticks

• Price action is subdued after recent curve flattening and despite the recent drop in oil prices, as yields gained alongside the continued equity market rebound.

Bunds: +17 ticks

• Eked out mild gains as price action settles down following recent whipsawing through the 123.00 level.

JGBs: -5 ticks

• Lack of demand following a muted reaction to the BoJ Summary of Opinions and weaker-than-expected Japanese Household Spending data, while participants await today's 30yr JGB auction.