Short-term Treasury prices are expected to rise a little early this week as the Treasury dumps $51.5 billion of new bills and notes into the thin holiday market. The auctions begin with today's $24.8 billion of three- and six-month bills, followed by $15.5 billion of two-year notes tomorrow and $11.25 billion of five-year notes on Wednesday.

The market copes with bill auctions each week, and the two- and five-year note auctions are held every month and usually go smoothly. But traders said they are a little more worried about the note sales this month because activity has been so thin recently, with many participants sidelined for the holidays.

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