Treasury prices are easing lower this morning after a quiet overnight session.  With little progress in Greek debt talks, focus shifted to Australia as the reserve bank surprised investors by keeping its benchmark rate unchanged at 4.25%. 

The US economic calendar remains light with only the Dec US consumer credit report due to be released.  Outside of data, Fed Chairman Bernanke is scheduled to testify today on the economy to the Senate Budget Committee. 

Currently, the 10yr yield is at 1.936% (1.921% Monday) and the 2-10 yield spread is at 170bps, 1bp steeper since yesterday morning.