[MARKET ANALYSIS] Treasury futures are subdued amid higher oil prices, with little fresh catalysts outside of geopolitics

USTs: -2.5 ticks

• Lacks demand and lingers well within Friday's tight parameters amid a lack of major US-specific catalysts outside of geopolitics and with mild upside in oil prices, while participants look ahead to the latest NFP jobs data scheduled for Thursday due to a holiday-shortened week.

Bunds: -9 ticks

• Marginally softened amid the upside in energy prices, while there were comments from ECB’s Schnabel, who warned that price pressures could turn out stronger than expected despite the US-Iran peace deal.

JGBs: -30 ticks

• Continued its pullback from last week's peak following firmer-than-expected Retail Sales data from Japan, but with the downside stemmed as Japan’s government is expected to call for “appropriate” monetary policy in its basic policy guidelines, in an apparent effort to dissuade the BoJ from further hiking rates.