[MARKET ANALYSIS] Treasury futures pare some of their gains as oil recovers and supply looms

USTs: -11.5 ticks

• T-note futures faded some of the prior day's gains as the partial rebound in oil prices spurred upside in yields, while prices are also not helped by incoming supply with a US 2yr note auction due later.

Bunds: -13 ticks

• Continued to pull back from yesterday's peak with price action across asset classes largely driven by recent fluctuations in oil, while demand for Bunds is also contained ahead of a total of EUR 7bln of Bobl and Bund issuances scheduled for Tuesday to Wednesday.

JGBs: +24 ticks

• Remained afloat after reverting to around the 131.00 level, and with participants digesting the softer-than-expected Japanese CPI data, while participants also await a 40yr JGB auction.