U.S. government debt prices were higher on Monday morning as investors digested an election result in Germany, and potentially another vote due to take place in Japan next month.
The yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower 2.216 percent, while the yield on the 30-year Treasury bond was also lower at 2.758 percent.
Angela Merkel's conservative bloc will be the largest party in the next German parliament, but provisional election results point to a worse-than-expected majority for the German chancellor.
Merkel's center-right Christian Democratic Union (CDU) and its Bavarian sister-party the Christian Social Union (CSU) won 33 percent of the vote. It would make them the largest parliamentary group, but that is down from 41.5 percent in the last election in 2013 and lower than recent polling. It is also their worst result since 1949, according to Reuters.
In Asia, Japanese Prime Minister Shinzo Abe announced snap elections for next month and also ordered his cabinet to compile new economic stimulus measures in a package worth around 2 trillion yen ($17.80 billion).
Back in the U.S., President Donald Trump tweeted Sunday evening that Alaska, Arizona, Maine and Kentucky would be big winners under the Graham-Cassidy bill to repeal and replace Obamacare. It would appear that the president was referring to funding revisions in the September 24 draft of the bill, a copy of which was obtained by CNBC. The Senate Finance Committee will convene a hearing on Monday to learn more about the Graham-Cassidy proposal.
On the data front, Dallas Fed manufacturing data is due at 10:30 a.m. ET.