Markets await the refinancing details, while US Treasury yields fluctuate narrowly in preparation for data week.

U.S. Treasury yields were little changed in Asian trading, as markets awaited the quarterly refinancing announcement and the ISM Services PMI data. According to a Wall Street Journal survey of analysts, the U.S. January ISM Services PMI is expected to fall to 53.5 from 54.4 previously. Michael Brown of Pepperstone noted in a report that this data will be closely watched, not only because of the overall performance following Monday's significantly better-than-expected ISM Manufacturing data, but also because the employment sub-index will be the focus given that the January jobs report will not be released on Friday. According to Tradeweb data, the 10-year U.S. Treasury yield rose 0.3 basis points to 4.274%, while the 30-year U.S. Treasury yield remained stable at 4.906%. (Jinshi)