Quiet start to new week, Tsys..........>

US TSY FLOWS: Quiet start to new week, Tsys trading mildly weaker, lower half

overnight range, moderate futures volume (TYH<240k -- China out all week for

Lunar New Year), yld curves mildly steeper. US$ index firmer (DXY +.169,

95.748); equities see-saw mildly higher levels (SPX +2.5, 2706.75).

- Overnight flow includes official acct buying short end, fast$ selling 10s, 2s

and 5s vs 10s curves steepeners. 

- Swap spds running wider, overnight flow includes receivers in 2s and

5s,8s/9s/10s receiver fly.

- The U.S. government re-open will allow for a back-log of data to be released

from the BEA and Census Bureau over the next couple of weeks. On tap for Monday:

ISM-NY current conditions; return of Factory new orders for November; 13- and

26W bill auctions. Cleveland Federal Reserve Bank President Loretta Mester will

answer questions at a economic outlook and monetary policy speaking event in

Ohio.

- Tsy cash/ylds: 2Y 99-31 (2.512%), 5Y 99-30.25 (2.512%), 10Y 103-21.5 (2.693%),

30Y 106-20 (3.034%).