FXStreet (Mumbai) - The yield on the long duration and short duration treasuries advanced on Monday as FOMC meeting on Wednesday is widely expected to end with a rate hike for the first time in almost a decade. At the time of writing, the 10-year yield was up 3.7bps at 2.176%. The more policy sensitive the 2-yr yield advanced 2bps to 0.915%. The upbeat factory data from China over the weekend could have pushed the yields higher as well. China data released on Saturday showed the industrial production in November rose 6.2% year-on-year, while retail sales gained 11.2% and fixed investment increased 10.2%. For more information, read our latest forex news.