[MARKET ANALYSIS] Treasuries remained subdued after yields climbed on higher oil prices and a hawkish Powell

USTs: -4 ticks

• Remained subdued after yields climbed on higher oil prices, hot PPI data and the post-FOMC press conference, where Fed Chair Powell sounded hawkish on inflation and stated the possibility that the next move might be a hike did come up at the meeting.

Bunds: -30 ticks

• Slid beneath the 126.00 level with market moves largely driven by geopolitics, oil and the Fed, while more central bank announcements loom, including from the ECB.

JGBs: - 35 ticks

• Conformed to the downside seen in global peers, with participants also digesting better-than-expected Machinery Orders data from Japan, while the attention turns to the BoJ policy decision in which the central bank is unanimously forecast to keep rates unchanged at 0.75%.