Little has changed since last Friday other than yields being a few bps higher.  The bond market still has to digest a condensed auction calendar over the next 2 days.  CPI is still a focal point tomorrow.  And central bank announcements round out the week, led by the Fed on Wednesday afternoon.  As far as the Fed is concerned, the dot plot is worth 95%+ of the market's attention with the press conference accounting for the other 5%.  Some might weight this more evenly, but few would take the dots out of the spotlight.  

Monday is most notable due to the dual auction offerings with the 3yr at 11:30am ET and the 10yr at 1pm ET.  Given the big ticket events in the next 2 days, it wouldn't be the weirdest thing in the world to see lackluster auction results, but we suspect that possibility has driven some of the linear weakness on Friday and in the overnight session.

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