U.S. sovereign bond prices were lower Monday as investors flocked back to equities as the chances of a Hillary Clinton victory appeared to grow after the FBI cleared the Democratic presidential hopeful of any criminal wrongdoing.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, moved higher to 1.824 percent, while the yield on the 30-year Treasury bond was higher at 2.602 percent.
Perceived safe havens like fixed income usually suffer when equities are en vogue, and the news from the FBI on Sunday sent investors back to "risk-on" assets like stocks. FBI director James Comey informed Congress in a letter on Sunday that the agency had not changed its conclusions from those it announced in July, when it said it didn't find evidence to support criminal charges against the former secretary of state over her use of a private server to send government-related emails.
On the data front Monday, consumer credit figures were scheduled to be released at 3:00 p.m. ET.
In Europe, Portuguese sovereign bonds rose after the government managed to pass its 2017 budget with support from its far-left allies.