Treasuries erased losses while U.S. equity futures pared a decline as the biggest selloff for U.S. assets since June eased before a Federal Reserve official speaks. Markets from Asia to Europe retreated. Futures on the S&P 500 Index were little changed after falling as much as 0.7 percent. Concern that central banks are preparing to wean markets off stimulus sent the underlying measure tumbling 2.5 percent on Friday.

The yield on 10-year Treasury notes held at 1.67 percent after surging eight basis points to end last week. Shares in Europe and Asia, which were closed Friday when the selloff began, dropped Monday by the most since the aftermath of the Brexit vote. Oil sank below $45 a barrel. The yen advanced and the won slid. While financial markets were jolted out of a period of calm by an uptick in concern over the outlook for central bank policies. READ MORE