Slow, Sideways Start After Overnight Weakness

Bonds are finding their range in a perfectly inoffensive way to begin the new week.  That's a victory considering a bit of weakness is never a surprise at the start of Treasury auction weeks, but then again, current trading levels represent a modest amount of weakness versus the recent yield lows in late June.  The overnight session was indeed slightly weaker, but domestic traders quickly got things back to "unchanged" after the 8:20am CME open.  There are no big ticket economic reports on tap.  Apart from Fed Chair Powell's semi-annual congressional testimony (Tue/Wed), there's not much to do except wait for Thursday's CPI.