Core FI Rangebound, BoJ Rinban Eyed

T-Notes have unwound their early losses and last trade unch. at 132-14, 0-02+ off lows & holding a tight range. Cash Tsy yields continue to trade virtually unchanged across the curve. Eurodollar futures are mostly unch. through the reds. Lacklustre headline flow and lack of tier 1 data releases across the region have translated into a slow start to the session, with participants preparing for Wednesday's FOMC decision.

• JGB futures have edged higher and trade at 151.59, 3 ticks above last settlement & comfortably within Friday's range. Cash JGB yields sit marginally lower across the curve. The state of emergency in four Japanese prefectures took effect Sunday, while the ruling LDP suffered defeats in all three weekend by-elections. The BoJ is set to buy 1-10 Year JGBs today, ahead of Tuesday's BoJ meeting.
• Australian yield curve has bull flattened in early trade, while ACGB futures hold tight ranges, with YM unch. & XM +1.0. Bills are mostly unch. through the reds. The AOFM's issuance schedule is very light this week, while across the Tasman, New Zealand is off for a holiday.