The aforementioned mix of "risk-on".........>

US TSYS: The aforementioned mix of "risk-on" factors & a decent enough round of

IG issuance weighed on the space on Monday, allowing T-Notes to correct further

away from key resistance that was tested on Friday, as the curve steepened.

Participants also started to gear up for Wednesday's round of 20-Year issuance

from the Tsy. T-Notes finished a little back from worst levels and last sit

+0-02 at 138-21. The pre-release for Fed Chair Powell's Tuesday testimony to the

Senate Banking Committee hit late in NY hours. Powell will note that the Fed is

"committed to using our full range of tools to support the economy in this

challenging time even as we recognize that these actions are only a part of a

broader public-sector response." Powell will also note that the Fed expects to

maintain near zero interest rates "until we are confident that the economy has

weathered recent events and is on track to achieve our maximum-employment and

price-stability goals."

- Roll volume started to churn over on Monday, with FV leading the way.