Looking To Yellen?

T-Notes tight at the re-open, last +0-01+ at 136-29. This comes after the contract meandered along in very limited, holiday-shortened, liquidity-thinned Monday trade, finishing the session little changed after ticking away from Asia/early Europe highs, with the modest uptick in German yields filtering through. In all honesty there was a lack of notable macro headline drivers during European trade, after a slightly defensive start to the week in Asia.

• Norway played down any links that were being made re: some elderly deaths in the country, which came in the wake of use of Pfizer's COVID vaccine, pointing to no evidence re: a direct link between the two.
• The Asia-Pac docket is limited on Tuesday, while U.S. focus will fall on an address from President-elect Biden's selection for Tsy Secretary, Janet Yellen, as she appears in front of the Senate Finance Committee. We should also flag that there has been reports of explosions north of Baghdad, Iraq, although there seems to be little further colour on the matter at present.