U.S. government debt prices were slightly lower Monday morning as investors eyed a potential interest rate hike later in the trading week.
There are no major economic data reports scheduled on Monday.
Investors were focused on the Federal Open Market Committee's meeting, which begins Tuesday. According to the CME Group's FedWatch tool, market expectations for a March rate hike stood at 88.6 percent.
In oil markets, Brent crude traded at around $51.36 a barrel on Monday morning, down 0.01 percent, while U.S. crude was around $48.39 a barrel, down 0.21 percent.
Oil prices slumped to their lowest level in three months on Monday in spite of OPEC and other producers' efforts to curb global oversupply.