U.S. Treasurys eased on Monday after giving up early gains driven by global investors seeking shelter in government bonds and other safe-haven assets from increasing tensions in Ukraine.
Prices for 10-year notes were down 7/32 and were yielding 2.61 percent after trading on Friday as low as 2.57 percent, a three-month trough.
On Friday, when an unexpectedly strong payrolls report was undermined by worries about Ukraine, U.S. 30-year bond yields fell as low as 3.34 percent, their lowest level since June 19. But prices retreated on Monday and lifted yields to 3.4 percent in New York.
"There's a little bid from Friday but the market is quiet with London and Japan closed," said Kim Rupert, managing director at Action Economics. "Escalation of tension (in Ukraine) is keeping stocks on edge, especially in Europe and a little bit here too."