Tsys are fairly steady ahead of.....>

US TSYS SUMMARY: Tsys are fairly steady ahead of the FOMC decision Wednesday.

- The Mar 19 T-Note future is down 3/32 at 121-22, having traded in a range of

121-205 to 121-24 in fairly aimless fashion overnight.

- The 2-Yr yield is down 0.2bps at 2.5706%, 5-Yr is up 0.8bps at 2.5536%, 10-Yr

is up 0.9bps at 2.7187%, and 30-Yr is up 0.1bps at 3.0407%.

- Fed said earlier "Federal government offices in Washington, D.C., will open on

a 3-hour delay Jan. 30 due to inclement weather. However, FOMC "will meet as

planned; FOMC statement will be released as scheduled at 2 p.m. EST, Chairman's

news conference will start at 2:30 p.m. EST." So business as usual.

- As we discussed in our Fed preview, the most common words used by analysts to

describe the Fed`s likely tone are `patience` and `flexibility` - main focus

will be on Powell maintaining that tone, and any insight on asset runoff.

- Corporate earnings today include Pultegroup, Lockheed Martin, Pfizer, Verizon

and 3M with Apple and eBay after the close.

- Some attention also on resumption of U.S.-China trade talks Wednesday.

- A few data points of note including ADP private payrolls at 1000ET/1500GMT.