- Unsurprisingly, it has been very.....>

BOND SUMMARY: - Unsurprisingly, it has been very quiet today, with limited

movement in US TSYs. The 10-year yield has ticked up to 2.73% from a low of

2.71% while the curve is marginally steeper on the day.

- As a reminder, Japanese markets will be closed until Friday.

- EUREX is closed today. Derivatives trading will recommence on Wednesday.

- Gilts initially rallied from the open but have since given back the gains with

yields now trading in line with the highs of the day. Current yields: 2-year

0.753%, 10-year 1.282%, 30-year 1.821%. The curve is slightly flatter.

- The Euro$ futures strip has flattened with whites down 0.5-1.0 ticks and

greens/blues up 0.5-1.5 ticks.

- The data calendar is light today with the only significant release being the

Dallas Fed Manufacturing Activity Index for December.