U.S. Treasury yields were mostly flat on Monday, despite deepening concern around omicron and lower economic growth forecasts.
The Federal Reserve's more hawkish turn on monetary policy also remained in focus for investors. The Fed said last week that it would accelerate the cutting down of its monthly bond purchases and signaled its intention to hike interest rates in 2022.
The United States' third-quarter current account data is set to be released on Tuesday, as is Redbook year-on-year data, which tracks year-on-year same-store sales growth in a sample of about 9,000 American retailers. While the Redbook covers roughly just 10% of total retail sales, it reflects the broader industry and is important as consumer spending makes up about 70% of the U.S. economy.
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