USD Supported, Tsy Futures Heavy As Oil Prices Rise ~3% In Early Trade

Oil prices are moving higher in early Asia Pac trade in response to Saudi's production cuts announced over the weekend, see this link for more details. Brent was last around $78.40/bbl, +3% above closing levels from the end of last week. WTI is +3.15% to $74.00/bbl. Both benchmarks sit slightly below session highs.

• In terms of other assets classes, we are seeing some USD trade with a slightly firmer bias, with USD/JPY through 140.00 (highs of 140.10), while AUD and NZD are also weaker. The A$ back close to 0.6600 (-0.10%), NZD/USD around 0.6055 (-0.15%).
• TYU3 has been heavy in the first part of trading, very much a continuation of the late NY session from Friday last week. We sit at 113-24+ currently, slightly above Sesson lows of 113-21+.
• US equity futures, dipped at the open but are now slightly higher. Eminis are back in positive territory, last around 4290 (lows for the session were at 4285.25).