[MARKET ANALYSIS] Treasury futures are lacklustre after the recent upside in yields and oil swings

USTs: -1 tick

• Lingered at the prior day's trough after yields rose across the curve yesterday in tandem with oil amid the ongoing blockade of the Strait of Hormuz and with a resistance commander cautioning that anyone who attempts to cross the Bab Al-Mandeb must be alert to threats from all sides from noon today.

Bunds: -25 ticks

• Trades sideways after recent whipsawing and a deluge of rhetoric from ECB officials and March meeting minutes.

JGBs: -11 ticks

• Nursed some of their earlier losses and returned to the 130.00 level amid a lack of pertinent drivers and following the recent unwinding of BoJ April rate hike bets.