It has been an extremely limited session....>

US TSYS: It has been an extremely limited session for U.S. Tsys, with T-Notes

sticking to a 1+ tick range.

- As a reminder cash Tsy markets are closed for a Japanese market holiday, and

will open for the London session.

- The space has had little reaction to weekend headlines from the WSJ which

noted that China has cancelled the planned trade talks with the U.S. amid

escalation of tariff threats, the formal imposition of the latest round of U.S.

tariffs on imported Chinese goods & the release of a Chinese white paper re:

trade.

- The Eurodollar strip trades unchanged to a tick higher last.

- Traders look to the 2-Year Note auction due later today, ahead of 5- & 7-Year

supply due later this week.

- Wednesday's Fed decision provides the highlight of the docket this week, with

a hike fully priced in focus will turn to the accompanying economic assessment

and rhetoric employed by Chair Powell in his press conference.

- T-Notes last 118.21+, U.S. 10-Year cash Tsy yields closed at 3.063% on Friday.