Downtick In Crude Helps Tsy Futures Off Lows

A downtick in oil prices, most recently aided by an FT source report which has suggested that “Saudi Arabia has indicated to western allies that it is prepared to raise oil production should Russia’s output fall substantially under the weight of sanctions” is taking some of the stagflation worry out of wider markets, at least on a very incremental basis. E-minis have nudged away from session lows to last print little changed on the day, while TY futures are off of worst levels, albeit within a very narrow 0-07+ range. Cash Tsys are little changed across the curve in early Asia dealing.