The treasury curve gave back some of Friday's advance, rising 3-4bps in yields, along with a 5-8bps rise in Europe. Equities rose in Asia, but fell in the US and Europe on a day of low volume. On the commodity side, energy rose 1.5%, while metals and agriculture declined slightly. The dollar appreciated 0.8%, and the VIX remained around 14.

Venezuela and PDVSA ended at levels similar to those at which they closed on Friday, after the government released a number of political prisoners, reacting to a statement from Trinidad, whose Prime Minister said he would let the US use his country as a base in the fight against drug trafficking.

In Latin American credits, the focus was on Argentina, where the corruption scandal unleashed on Friday continues to impact the country's assets, with bonds falling 2pts and ADRs falling up to 8%. The rest of the region was flat.