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The bond market is closed on Tuesday in observance of Veterans Day.
U.S. Treasurys extended earlier losses on Monday after the U.S. government's auction of 3-year Treasury notes, the first of three debt auctions this week.
The Treasury Department auctioned $26 billion in three-year notes at a high yield of 0.998 percent. The bid-to-cover ratio, an indicator of demand, was 3.18. Indirect bidders, which include major central banks, were awarded 37.7 percent. Direct bidders, which includes domestic money managers, brought 15.2 percent.
Yields on benchmark 10-year notes—used to calculate mortgage rates and consumer loans—closed at 2.36 percent on Monday.
Traders sold some safe-haven Treasurys after prices extended last Friday's rally in early U.S. trading. Analysts said traders sold with the aim of buying them back at lower prices at the Treasury's auctions this week.
"There's certainly some impetus for profit-taking after Friday's rally," said Edward Acton, Treasury strategist at RBS Securities in Stamford, Connecticut. "The auctions are going to be the lone liquidity moments for the Treasury curve this week," he added.
Earlier on Monday, data out of China showed consumer price inflation held steady last month, remaining at its slowest rate in five years, adding to evidence the world's second-largest economy is cooling. Over the weekend, data showed Chinese exports rose 11.6 percent in October, above forecasts but slowing from a 15.3 percent jump in September.
Reuters contributed to this report.