[MARKET ANALYSIS] Treasury futures are rangebound after rising yesterday on lower oil prices, while upside is contained as supply looms

USTs: -3.5 ticks

• Slightly pulled back after gaining yesterday as yields softened alongside lower oil prices and weak US data releases, while demand overnight is also constrained ahead of a looming flurry of central bank rate decisions and with supply scheduled later, including a 20yr note offering stateside.

Bunds: -3 ticks

• Trades rangebound following the recent choppy, but positive performance, in which prices return to above the 126.00 level, although further upside is capped heading into German ZEW data.

JGBs: +3 ticks

• JGB futures trade indecisively, but are off early lows after rebounding from a brief dip beneath the 131.00 level, and with the attention turning to today's 20yr JGB auction.