Flat Start For T-Notes

T-Notes +0-01 at 132-01+, a touch above Friday's NY lows.

• To recap, Tsys cheapened on the final day of last week, with the major cash Tsy benchmarks finishing little changed to ~4bp cheaper come the bell as 5s and 10s tapped multi-month highs in yield terms. Bund weakness helped drag the Tsy complex lower ahead of NY dealing, with an 8.5K block sale of TU futures adding some weight during the NY morning.
• The space discounted the latest round of local economic data, while Friday's Fedspeak failed to introduce much in the way of material fresh information as the fallout from Wednesday's FOMC continued to apply some weight to the space.
• Preliminary durable goods data and the latest Dallas Fed m'fing activity index will hit during NY hours on Monday. Elsewhere, Fedspeak from Williams, Brainard & Evans will cross, while the Tsy will come to market with 2- & 5-Year supply (the frontloaded supply schedule apparent this week may have added to the weight felt during Friday's session, with a 7-Year auction also slated for Tuesday). Fiscal matters on the Hill will also provide interest.