WORLD HEADLINES – European stocks and bonds fell in a volatile market on Monday, hit by growing concerns that global central banks’ commitment to the post-crisis orthodoxy of super-low interest rates and asset purchase programs may be waning.

STOCKS – S&P 500 Index futures slipped 0.6 percent, indicating U.S. equities will slide for a fourth day, after ending last week lower.

BONDS – Some Fed members have been talking up the September meeting as being “live” for a rate hike, even though futures only imply a one-in-four chance of a move then.

COMMODITIES – Oil prices extended Friday’s 4 percent fall in Asia after reports showed increasing drilling activity in the United States, indicating that producers can operate profitably around current levels and bring on new supply.

CURRENCIES – In the forex market, the risk aversion benefited perceived safe havens such as the yen while hitting carry trades in higher yielding currencies including the Australian dollar.

ECONOMIC DATA – FOMC Member Brainard Speaks at 13:00, 10-y Bond Auction at 13:01, RBA Assist Gov Kent Speaks at 18:30, CNY Industrial Production y/y at 22:00 ET.