At around 2:25 a.m. ET, the yield on the 10-year note, which moves inversely to price, was slightly higher at 0.6774%, while the yield on the 30-year Treasury bond was also up at 1.2972%.

The U.S. death toll from the coronavirus passed 3,000 on Monday following the deadliest day yet, while more than 164,000 cases have now been confirmed.

Having deployed a massive $2 trillion stimulus package just last week to cushion the economic blow from the pandemic, Congress is now looking at additional steps that may be taken to manage the mounting human impact.

Wall Street rebounded Monday from a deep sell-off triggered by economic uncertainty, with nationwide business closures and social distancing guidance extended until April 30.

On the data front, Redbook figures for last week are due at 8:55 a.m. ET before January’s S&P/Case-Shiller home price readings at 9 a.m. ET. CB consumer confidence data is due at 10 a.m. ET and it is expected to fall sharply.

Auctions will be held Tuesday for $60 billion of 42-day bills and $45 billion of 69-day bills.

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