U.S. sovereign bond prices surged on Monday, as volatility in stocks persisted and rate rise fears dominated markets.
U.S. stocks opened lower Monday as investors rushed to traditional safe-haven assets such as gold and U.S. Treasurys on global growth and rate hike worries, ahead of Federal Reserve Chair Janet Yellen's testimony this week.
The yield on 10-year Treasury notes, which moves inversely to the bond's price, hit a 1-year low below 1.75 percent and was last trading at 1.743 percent, after closing at 1.848 percent on Friday. This is down from 2.3 percent at the start of the year, as safe-haven buying has continued to weigh on yields.
Meanwhile, the longer-dated 30-year yield was lower at 2.567 percent. Two-year yields also hit their lowest level in over 3 months and last traded at around 0.666 percent.