Bond prices dropped Friday after a U.S. jobs report topped expectations. Nonfarm payrolls surged by 266,000 in November and the unemployment rate stood at 3.5%.

This week traders are waiting for a new Federal Reserve meeting, starting Tuesday. Market players are also closely following trade talks between the U.S. and China, looking for clarity as to whether both countries will be signing a trade deal soon. The U.S. is due to impose new tariffs on China by December 15.

There are no major data releases planned for Monday.

The U.S. Treasury is set to auction $84 billion in 13 and 26-week bills; and $38 billion in three-year notes.

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