- Government bond selling picked up speed on Monday as traders were uneasy over the prospect of more rate increases.
- German bonds with a 30-year maturity now have a yield of 2.72%, the highest since early 2014. Treasury yields of a similar maturity increased by seven basis points. US market futures moderately increased, indicating a recovery from Friday's decline.
- Fed's Bowman stated over the weekend that additional rate increases might be necessary for the US central bank to fully restore price stability. Investors also took into account the contradictory signals from Friday's US jobs report, which showed wages to be higher than expected despite a slowdown in payroll growth.
- Stock trading was less active. European equities sank as a gauge of German industrial output hit a six-month low, highlighting the economy's fragility. The trading of Euro STOXX 50 stocks was also relatively modest, at roughly 40% below the 30-day average.
- Fed's Williams: Rates may come down next year - NYT.
