Treasuriesrallied over the weekend as falling oil prices pushed down Inflation expectations. Markit PMI Manufacturing Flash Index reported slowing growth so far for November, to 54.7 from 55.9 in October and from 56.2 in the October flash and 55 is expected for the final November reading. ISM Manufacturing rose to 59 in October vs. 56.6 in September, and is expected to slip to 58 for the November reading. The curve is opening flat to Friday’sclose with MBS 1-2 ticks tighter to treasuryhedges.
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