- No major releases are scheduled for today. In Fed speak, Bies speaks on mortgage risks at 10:30 a.m. Looking ahead to the rest of the week, CPI for Jan. is on tap tomorrow as well as the minutes of the Jan. 31 FOMC meeting. - Last night the BBC reported that U.S. contingency plans for attacks on Iran include most of Iran's air and naval bases in addition to Iranian missile facilities. - In new supply, the Treasury will sell $18B of 2Y notes tomorrow and $13B of 5Y notes on Thursday. - The CFTC reported late last week that futures only positions in the 30Y futures moved less short last week to 71,284 contracts from 73,257. Futures only positions in the 10Y moved less long to 220,082 contracts from 260,148. - Walmart reported Q4 earnings this morning of $0.93, above expectations of $0.90. The company guided Q1 earnings between $0.68 and $0.71 versus estimates of $0.68. - In European economic news, preliminary Q4 GDP in France was +0.6%, matching expectations. In the United Kingdom, M4 money suppy rose more than expected in Jan. by 0.9% or 13.0% year over year. Sterling lending in January was up 31.7B pounds, above expectations. Tomorrow the Bank of England releases the minutes of its Jan. policy meeting. In Germany, producer prices came in flat in January, below expectations of +0.1%. In Switzerland, producer and import prices fell more than expected by 0.2% in Jan. - In Asia, the BOJ began the first day of its two-day policy meeting earlier today. Economists are split on whether the BOJ will raise rates by 25 basis points to 0.5%. Last week's release of Q4 GDP in Japan, which came in at 4.8% annualized, is said to have strengthened the case that the BOJ has the evidence it needs to raise rates. - At 8:15 a.m. the 30Y future is down 5 ticks at 111 11/32 and the 10Y future is down 3 ticks at 107 16/32.