Treasuries have been grinding.......>

US TSYS SUMMARY: Treasuries have been grinding higher in a narrow range to start

the week, on very light volumes (<150k TYM0 traded as of 0630ET).

- Jun 10-Yr futures (TY) up 5.5/32 at 139-02 (L: 138-29.5 / H: 139-06)

- The 2-Yr yield is down 1bps at 0.1916%, 5-Yr is down 1bps at 0.35%, 10-Yr is

down 2.4bps at 0.6179%, and 30-Yr is down 0.9bps at 1.2515%.

- Equity futures lower as markets digest weekend headlines on the Coronavirus

front as well as likely further stimulus.

- Reports point to Congress + White House close to a deal on a new COVID funding

package, focused on SMEs and totaling close to $500bln; could be announced as

soon as today, with House Democrats holding a conf call this afternoon.

- Only data point today is Chicago Fed Activity Index for March at 0830ET.

- Fed Blackout period has begun ahead of next week's FOMC, so no speakers until

after next Wednesday.

- Reminder, NY Fed's buying decision to dial back Tsy purchases back to $15bln

daily vs $30bln previous (Today: $12bln in 0-2.25Yr, $3.5bln in 7-20Yr).