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SoS Blinken To Ukraine as Tensions With Russia Rise

US
Tsys trading weaker but have gradually risen off early overnight lows as US returns from extended MLK holiday weekend. Invasion fears/geopol tensions rise with Russia over Ukraine: headlines making rounds that Russia and Belarus won't rule out using joint military capacity. US Sec of State Antony Blinken to travel to Ukraine this week.
  • Closer to home, focus on voting rights bills this week (Freedom to Vote Act and the John Lewis Voting Rights Advancement Act), vote as early as Wednesday.
  • Tsys yields' overnight highs: 30YY 2.1804% currently 2.1367%; 10YY 1.8536% currently 1.8180%. Yield curves bear flattening (5s30s -4.105bp at 52.148 vs. 49.398 low.
  • Equities weaker but off lows: ESH2 -44.75 at 4610.0. Corporate earnings releases still early in the new cycle.
  • Federal Reserve entered media blackout re: monetary policy late Friday, runs through Jan 27, day after FOMC annc. On latest CB policy annc's, BOJ held rates steady while making adjustments to inflation and GDP targets.
  • Relatively muted data: Empire Manufacturing (25.0 est vs. 31.9 prior), NAHB Housing Market Index (84 est), TICs flows this afternoon.

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