U.S. Treasury debt prices softened on Monday, giving back some gains from last week as equity markets rose on signs China was moving to bolster its massive economy.
As Wall Street stocks jumped, yields on the 10-year note stayed well below the 2 percent touched last week and were last up 2 basis points at 1.96 percent.
The long bond was yielding 2.56 percent, up 3 basis points.
Stocks, which often move inversely from bonds in prices, surged to seven-year highs in China, helped by Beijing's unveiling of an ambitious plan to build a modern Silk Road to Europe and Africa.
Wall Street got added lift from a flurry of biotech merger deals and European shares were also up on Monday.
Analysts say investment in the "One Belt, One Road" infrastructure initiative this year alone could reach 300 billion to 400 billion yuan ($48-64 billion).