U.S. bond prices declined higher on Monday after hitting their highest levels since November. U.S. Vice President Mike Pence said the "era of strategic patience" with North Korea was over.
Pence made the comments on the border between North and South Korea a day after North Korea's failed missile test. The Trump administration is working with China and its allies on a response to North Korea's missile program.
The yield on the benchmark 10-year Treasury note was higher at around 2.252 percent after breaking below 2.2 percent for the first time since Nov. 17. The yield on the 30-year Treasury bond was also higher at 2.91 percent after hitting its lowest level since Nov. 10. Yields move inversely to prices.