Early Bonds: U.S. Treasuries modestly higher start in the 5-yr note and shorter tenors while the long end is expected to show slight relative weakness in the early going.
China’s CPI decreased for the fifth consecutive month, returning the yr/yr growth rate to zero.
PPI contracted for the ninth consecutive month.
Crude oil is giving back some of last week’s advance while the U.S. Dollar Index is up 0.1% at 102.41.
Yield:
2-yr: -4 bps to 4.90%
3-yr: -4 bps to 4.61%
5-yr: -3 bps to 4.31%
10-yr: -1 bp to 4.04%
30-yr: +1 bp to 4.04%