With the end of Operation Twist and a dismal multi-year low print in ISM, it seems Treasuries are a little less sanguine at the hope for a week-/month-/quarter-start bid for risk than equities. 10Y rates are back near Friday's lows while S&P 500 e-mini futures are 40-45 points higher. Does Operation Twist+ have that much impact? Is 'bad' good once again for QE hopes?

