OVERNIGHT MARKETS AND NEWS

The dollar index (DXY00 -0.24%) is down -0.20%. EUR/USD (^EURUSD) is up +0.20% after ECB President Draghi said as prices are gradually picking up, wage rises will follow and push inflation closer to the ECB's goal. USD/JPY (^USDJPY) is down -0.40% at a 4-week low.

Dec 10-year T-note prices (ZNZ17 +0.03%) are little changed, down -0.5 of a tick.

San Francisco Fed President Williams said the economy continues to grow “very nicely,” and u.s. is in a period of “relative calm.” He added that in his view “a perfectly reasonable path for policy would be one more rate increase this year and three next year.”