U.S. government debt prices were higher Monday morning as investors digested news related to Covid-19 and lower oil prices.
At around 2 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was slightly lower at 0.6384%, while the yield on the 30-year Treasury bond was fractionally lower at 1.2635%.
Treasury yields rose on Friday after the Federal Reserve said it would be buying securities at a slower daily pace. Meanwhile, investors are dealing with a sharp decline in U.S. crude prices. Commodity traders have concerns over a drop in demand due to the coronavirus pandemic. The futures contract is set to expire on Tuesday, according to Refinitiv, also leading to some technical selling.
There are no economic data releases scheduled. The U.S. Treasury is set to auction $99 billion in 13- and 26-week bills.