[MARKET ANALYSIS] Treasury futures pull back as oil prices and geopolitics continue to influence price action

USTs: +16 ticks

• Partially faded yesterday's advances after hitting resistance at the 110.00 level, and with US 'self-defence strikes' on southern Iran providing a potential stumbling block for the ongoing peace negotiations, while there is also US supply scheduled today, including a 2yr note auction.

Bunds: -15 ticks

• Pared some of its recent spoils but remains above the 126.00 level as oil prices and geopolitics remain the main influences for price action.

JGBs: -19 ticks

• Gapped lower but with further downside limited amid geopolitical uncertainty and a quiet calendar.