U.S. sovereign bond prices fell, but were off their lows Monday, as investors pared rate hike expectations in the wake of Friday's sluggish jobs report.
The yield on the 10-year Treasury note, which moves inversely to its price, moved higher to 1.7185 percent, while the yield on the 30-year Treasury bond was up at 2.5430 percent. Two-year yields rose to 0.7913 percent.
Yields pared gains as investors digested remarks by Federal Reserve Chair Janet Yellen on Monday.
Yellen struck a generally positive tone on the U.S. economy on Monday — despite last week's disappointing jobs report.
Speaking at an event in Philadelphia, Yellen continued to say the Fed needs to raise rates, but she stepped back from putting a time period on that plan.
The Fed funds rate probably needs to rise gradually over time, she said, and hikes should come before all of the central bank's economic goals have been fully reached.