U.S. government debt prices were slightly lower Monday as volatility in equity markets began to fade.
The yield on the benchmark 10-year Treasury note was seen trading higher at around 3.061 percent, while the yield on the 30-year Treasury bond was barely moved at 3.311 percent. Bond yields move inversely to prices.
Bond markets typically gain in so-called risk-off scenarios where traders flee risk assets like equities in favor of less risky securities like bonds and gold. On Friday, Treasury prices rose as both stocks and oil prices fell.
Investors will likely turn attention to political news this week, as the G20 summit kicks off in Argentina and Brexit once again becomes a point of focus.
Both U.S. President Donald Trump and Chinese President Xi Jinping will be brought together by the meeting this week, however expectations are low in regard to any breakthrough on the trade battle between the two countries.
In other news, the U.K. gained the backing of the European Union on its divorce deal with the soon-to-be 27-member bloc over the weekend.
Traders will also likely switch focus to upcoming economic data. Chicago Federal Reserve national activity index numbers are due to be released at 8:30 a.m. ET, while Dallas Fed manufacturing survey data are due at 10:30 a.m. ET.
Moreover, $39 billion in 13-week Treasury bills, $36 billion in 26-week Treasury bills and $39 billion in two-year Treasury notes are set to go on auction on Monday.