T-Notes -0-02 at typing, printing at........>

US TSYS: T-Notes -0-02 at typing, printing at 138-20+, having a look at

yesterday's low as e-minis have a look above yesterday's highs.

- Pressure crept into the space during Monday's NY session as continued

speculation re: the next round of fiscal stimulus in the U.S. allowed equity

markets to rally, with tech leading. This left T-Notes at/just off session lows

at the close of play.

- Still, sparse volumes had many pointing to summer markets and little in the

way of any real conviction, which is perhaps understandable given the limited

news flow and recent market moves.

- Still, this summer may not be your typical offering, given the various,

well-documented sources of risk, heightened supply and unparalleled

monetary/fiscal support offered across the globe.

- Curves went out little changed, with modest underperformance in the belly.

- Eurodollar futures last unchanged to -0.5.