[MARKET ANALYSIS] Treasury futures are lacklustre amid the backdrop of recent oil price swings and supply
Importance
Level 1
USTs: -2 ticks
- Price action is rangebound following the recent choppy performance as trade continues to be driven by geopolitics and the fluctuations in oil, while demand was also not helped by a very weak 3yr auction and the announcement of several large corporate issuances, including from Amazon (AMZN), Salesforce (CRM) and Honeywell (HON), totalling at least USD 66bln.
Bunds: -9 ticks
- Traded subdued, but are off the prior day's lows after finding support near the 127.00 level, while participants await German supply.
JGBs: -9 ticks
- Marginally declined amid the mostly positive risk appetite in Asia and as the latest 5yr JGB auction looms.
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