Treasuries are trading a little.....>

US TSYS SUMMARY: Treasuries are trading a little weaker as markets return from a

Thanksgiving holiday-shortened week.

- The Dec 18 T-Note future is down 2.5/32 at 119-065, having traded in a range

of 119-055 to 119-115.

- The 2-Yr yield is up 2.1bps at 2.8302%, 5-Yr is up 2.6bps at 2.8918%, 10-Yr is

up 2.4bps at 3.0627%, and 30-Yr is outperforming, up just 0.9bps at 3.3105%.

- Eurodollar futures are down slightly, Dec20/Mar21 off most (-2.5 ticks).

- With Italian spreads narrowing boosting the EUR, the USD is a little weaker to

start the week, DXY off 0.2% at 96.744. 

- Oil prices have bounced a little, WTI up 0.8% at $50.84, geopolitical concerns

(Russia-Ukraine) helping underpin gains.

- Still, TIPS inflation breakevens remain underpressure further to our note last

Friday; 5-Yrs remain at lowest levels since Dec 2017 at 1.7731%.

- Slow start event/data-wise to an otherwise busy week, with Nov Dallas Fed

manufacturing index, bill and note auctions. NY Fed VP Dzina speaks at 1330ET.