Aside from the FOMC meeting on Wednesday...

....the main event will be the release of durable goods orders on Friday, which will allow us to get a better sense of how broad-based the manufacturing slowdown is. Investors are preoccupied with whether the slowdown is due to supplier disruptions from the Japan earthquake or if it is much broader-based. Our forecast assumes a bounceback from last month's weak report. The key measure in this report - "core" orders - is expected to rise roughly 1.5%, leaving us on track for 7.5% capex growth. This week's housing data - new and existing home sales - will continue to reflect the depressed housing market ---BAML