Tsys have traded lower in the.......>

US TSYS SUMMARY: Tsys have traded lower in the return from the long weekend,

with the surge in Chinese equities teeing off a jump in global risk appetite.

- Bear steepening so far in the Tsy curve: The 2-Yr yield is up 0.6bps at

0.1586%, 5-Yr is up 1bps at 0.3054%, 10-Yr is up 1.8bps at 0.6874%, and 30-Yr is

up 2.4bps at 1.4511%.

- Sep 10-Yr futures (TY) down 3.5/32 at 138-31.5 (L: 138-28 / H: 139-05.5)

- Overall, it's looking like a much thinner data/events calendar this week.

- The only data points today are Markit Svcs/Composite final Jun PMIs at 0945ET;

and the highlight, ISM non-manuf, at 1000ET (50.0 exp, 45.4 prior).

- And no scheduled Fed speakers.

- $105bln in 13-/26-week bills sold at 1130ET auction. 

- NYFed buys $12.8bln of short-end Tsys.