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Muted early cash trade, with a light better bid bias, although 30s aren't even 1.0bp richer on the day. T-Notes holding to the 0-02 range established at the re-open, last -0-01 at 136-21. Nothing in the way of standout flow observed, with headlines also light. We should be cognisant of the impending Lunar New Year holidays, which could thin out participation in the Asia-Pac region.