Treasuries advanced overnight as China announced their manufacturing growth slowed last quarter, increasing demand for safer securities. It’s a busy week ahead, but the main event is on Wednesday—the FOMC meeting. Investors are looking for any indication about the future of Fed’s bond purchase program. We have a lot of economic data prior to the big announcement; Empire State Manufacturing Index is released at 8:30 today, tomorrow Housing Starts and Consumer Price Index are announced and Housing Starts come out Wednesday morning.
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