Monday's Asia-Pac session has the......>

BOND SUMMARY: Monday's Asia-Pac session has the distinct feel of a U.S. holiday

session, on the back of a relatively limited weekend on the news front, with

focus falling on familiar, if a little elevated, geopolitical tensions. Market

looked through the lack of lower monthly LPR fixings out of China, with the PBoC

remaining willing to pump pre-Lunar New Year liquidity into the system via OMOs.

- Cash Tsys are closed until Tuesday's session owing to a U.S. holiday. T-Notes

+0-03+ at 129-05, Eurodollar futures unch. to 2.0 ticks higher through the reds.

- Aussie bond futures also happy to hold tight ranges ahead of greater domestic

event risk later this week, with some A$ issuance providing the only real points

of interest in early Sydney trade. YM +1.0, XM unch. Bills unchanged to 1 tick

higher through the reds, with some interest in IRM0M1 flatteners seen.

- JGB futs registered fresh Tokyo lows in early afternoon trade, last -5, on

wider spreads in today's BoJ Rinban ops, as well as steady to higher offer to

cover ratios. Super-long yields drifting higher, as the curve steepens at the

margin, with the BoJ's preference for a steeper curve & Wednesday's 5-15.5 Year

JGB liquidity enhancement auction possibly getting some attention.