U.S. government debt yields were lower Monday, as investors switched focus to the latest developments coming out of the auctions sphere and U.S. Federal Reserve.
The yield on the benchmark 10-year Treasury note sat higher at around 2.372 percent at 12:32 p.m. ET, while the yield on the 30-year Treasury bond was up at 2.883 percent. Bond yields move inversely to prices.
While no major speeches are expected to take place by members of the U.S. Federal Reserve on the first trading day of the week, discussion about who should lead the U.S. central bank from early 2018 is likely to be on the lips on many investors Monday, as a verdict looms.
At present, five individuals have been named as potential candidates to take on the position of Fed Chair — a role currently held by Janet Yellen. However, recent news suggests the number could be narrowing.
In an interview aired in recent days, President Donald Trump acknowledged that the markets expected he would likely choose Stanford University economist John Taylor or Fed Governor Jerome Powell for the top role.
One of the two could end up being put up for the position of Fed chair, while the other could be nominated for the vice chair role, an FBN report suggests. A decision is expected to be made before the president's trip to Asia in early November.
In politics, Trump is expected to meet with Singapore's Prime Minister Lee Hsien Loong at the White House on Monday. The two leaders will likely comment upon how each nation can strengthen their ties on a political, economic, and social basis, as well as discussing security.
—CNBC's Jeff Cox contributed to this report