[MARKET ANALYSIS] Treasury futures attempt to bounceback after recent losses, but with upside capped as supply looms

USTs: +3.5 ticks

• Mildly rebounded overnight but with trade kept within tight parameters after recent choppy price action as participants reflect on lower oil prices and hawkish Fed pricing.

Bunds: + 6 ticks

• Marginally extends on yesterday's resurgence with upside facilitated by recent declines in energy prices and somewhat dovish comments from ECB's Lagarde, although further upside is limited ahead of incoming German supply including today's EUR 5bln Schatz issuance.

JGBs: +5 ticks

• Nursed some of the recent losses but with the recovery contained following stronger flash PMI data from Japan and as a 5yr JGB auction looms.