T-Notes have come under light pressure......>

US TSYS: T-Notes have come under light pressure with equities and crude bid in

Asia hours, but the contract still holds a very narrow range, last -0-01+ at

138-31. Focus continues to fall on the improving (on net) global COVID-19

picture, even with U.S. cases now topping 1 million, and subsequent loosening of

lockdown measures across the globe, in addition to the latest round of South

Korean reports re: North Korean leader Kim, as Yonhap sources noted that "South

Korean military and intelligence authorities believe that North Korean leader

Kim Jong-un is handling state affairs normally." Volume light, T-Notes running

on ~20K at typing, with cash markets closed owing to a Japanese holiday.

- Eurodollar futures unchanged to +0.5 through the reds, with continued focus on

LIBOR fixings & FRA/OIS spreads.

- Also worth noting the potential for Boeing to issue debt, per the RTRs source

piece we have flagged elsewhere.

- The latest FOMC monetary policy decision headlines today (see our full preview

for details), with Q1 GDP & PCE also due.