Treasury prices are edging lower to begin this holiday shortened trading week due to better than expected data on Chinese GDP. Yields are currently hovering near levels posted early on Friday before numerous EU credit downgrades began a flight to quality bid. 

This week's economic calendar is fairly busy with key data including today's Empire Manufacturing report, tomorrow's PPI and Industrial Production Data and Thursday's CPI data.  The already released Jan Empire Manufacturing report was stronger than expected at 13.48 vs estimates of 11. 

Currently, the 10 year yield is at 1.884% (1.895% Friday) and the 2-10 yield spread is at 163bps, 4 bps flatter since yesterday morning.