Not much to write home about at the.........>

US TSYS: Not much to write home about at the re-open, with T-Notes in a very

tight range, +0-04 at 128-17+.

- Buoyant U.S. equity markets added weight to the space on Monday, with T-Notes

finishing lower and yields along the curve cheapening by 2.3-4.9bp, as the 5-10

Year sector underperformed in cash trade.

- There was little in the way of immediate reaction to the latest round of

domestic data, flash PMIs and the Empire M'fing survey.

- A 2s30s block steepener in futures added to the downside impetus in the space.

- Elsewhere, Fed's Bullard told MNI that monetary policy had an "important

realignment" this year and he's content to see how it ripples through the

economy before calling for further adjustments. Worth flagging that Fed dove

Kashkari is due to speak at the bottom of the hour.

- Also worth reminding that the latest round of Fed term repo ops covering year

end were oversubscribed on Monday..