U.S. government debt prices were higher Tuesday morning, as investors monitored geopolitical tensions in the Middle East.
Market focus is largely attuned to the threat of a military response to attacks onThe attacks wiped out 5.7 million barrels per day of daily crude production — or 50% of the kingdom's oil output. It has raised the prospect of a major supply shock in a market that had been focused on demand concerns in recent months.
Elsewhere, investors are likely to closely monitor the Federal Reserve's two-day meeting this week. The U.S. central bank is expected to cut interest rates at the conclusion of its meeting on Wednesday. On the data front, a business leaders survey for September will be released at around 8:30 a.m. ET. Industrial production figures for August, capacity utilization data for August and the housing market index for September will all follow slightly later in the session.
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