JPM analysts said that Monday,.....>

US TSYS/RESEARCH: JPM analysts said that Monday, "most domestic Treasury

participants spent the afternoon entranced by the first total eclipse visible in

the US since 1979, and when accompanied by an empty economic data calendar and

relatively low volatility in risk assets, Treasury yields spent much of the day

trading in a narrow range and closed 1bp lower across the curve."

- They added that "realized volatility has retreated to decade lows, but we do

not see any catalysts to dislodge the low-volatility environment over the near

term: it is unlikely Chair Yellen uses her speech at the Jackson Hole Symposium

to affect policy expectations, the data calendar is relatively light over the

next two weeks, and traditional debt ceiling dynamics are unlikely to impact

markets and risk appetite until after the Labor Day holiday."