December 5, 2016
Treasuries traded near session lows in early U.S. hours, trailing steeper declines for most euro-zone debt markets led by Italian bonds. Initial flight-to-quality gains, after Italian voters rejected the government's proposed constitutional reforms, were erased.
Federal Reserve Bank of NY President William Dudley signaled that he approves of higher interest rates over time as the economy continues to improve, while cautioning that fiscal and monetary policy need to work together to secure the longer-term outlook.
The European Central Bank president will announce an extension of asset purchases on Thursday at the current pace of 80 billion euros ($84 billion) a month, according to most economists in a Bloomberg survey.
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