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Treasury Department auctions $34 billion of 5-year notes at a high yield of 1.742%

U.S. Treasury yields were mixed Monday, as investors digested the latest news out of the auction and economic data.

The yield on the benchmark 10-year Treasury note sat lower at 2.166 percent at 1:04 p.m. ET, while the yield on the 30-year Treasury bond was higher at 2.763 percent. Bond yields move inversely to prices.

U.S. Markets Overview: Treasurys chart

The Treasury Department auctioned $26 billion in 2-year notes at a high yield of 1.345 percent. The bid-to-cover ratio, an indicator of demand, was 2.86.

Indirect bidders, which include major central banks, were awarded 45.8 percent. Direct bidders, which includes domestic money managers, bought 12.6 percent.

Later in the day, the Treasury Department also auctioned $34 billion in 5-year notes at a high yield of 1.742 percent. The bid-to-cover ratio was 2.58.

Indirect bidders were awarded 69.1 percent. Direct bidders bought 13.5 percent.

U.S. politics continues to keep investors on their toes on Monday, as Wall Street looks to the U.S. President to see how he handles the hurricane which struck Texas and caused chaos over the weekend.

Meanwhile, a number of reports emerged over the weekend about the U.S. President, including an article by The Washington Post, which reported on Sunday that Donald Trump's company had been chasing a deal to build a Trump Tower in Moscow while the Republican was running for president during late 2015 and early 2016.

Comments made at the 2017 Economic Policy Symposium last week in Jackson Hole are also expected to be on investors' minds on Monday.

On Friday, European Central Bank President Mario Draghi said that while the global economic recovery appeared as if it was firming up, protectionist policies could pose a "serious risk" to growth.

Meanwhile, Federal Reserve Chair Janet Yellen said some modifications to regulations may still be required, however the financial system was safer now following the actions made by regulators after the crisis.

The oil market was a key talking point on Monday, with prices coming under pressure during early trade after Hurricane Harvey struck the state of Texas over the weekend, causing chaos for businesses and citizens. Several oil refineries had to temporarily shut.

—CNBC's Leslie Shaffer contributed to this report.