US Treasurys flat after Dudley, Lew speeches

U.S. sovereign bonds were virtually unchanged Monday after speeches by the U.S. Treasury Secretary and a Federal Reserve official.

Treasury Secretary Jack Lew said the United States and other nations must work together to further revamp the International Monetary Fund, allowing it to focus more on exchange rates, current account imbalances and global demand shortfalls.

"We must work with our partners to further modernize the IMF, allowing it to intensify scrutiny of critical issues like exchange rates, current account imbalances, and shortfalls in global aggregate demand," Lew said in a speech before the Council on Foreign Relations in Washington.

US 10-YR
US 30-YR

The yield on the benchmark 10-year Treasury note which moves inversely to its price, moved mildly higher to 1.7229 percent, as the yield on the 30-year Treasury bond gained to 2.5613 percent.

Monday marks a relatively quiet day for U.S. bond markets, with investors eyeing March retail sales, producer price index numbers and the Federal Reserve's Beige Book which are set to be released on Wednesday.

William Dudley, president of the Federal Reserve Bank of New York, said at an annual conference for the Association for Neighborhood and Housing Development that the U.S. needs to enact changes in school financing, housing and transportation policy to better support the ability of families to move from one place to another in pursuit of better jobs and educations. Dudley, a voting member of the Fed's policymaking committee, did not comment on monetary policy.

— Reuters contributed to this report.