The economic calendar is bare today

But sentiment is bubbly

It won't be economic data that derails positive sentiment today. There is virtually nothing to look for on the economic calendar.

So the name of the game today will be to watch out for headlines and tweets. The President tweeted that talks with China were going well on the weekend, but that kind of talk is having a diminishing effect.

Still, US equity futures are 30 points higher and yields are 3-5 bps across the curve. Keep an eye on bonds.