U.S. government debt yields rose on Monday, as investors turn their focus to the proposed overhaul of the U.S. tax system.
The yield on the benchmark 10-year Treasury note sat higher at 2.385 percent at 1:19 p.m. ET, while the yield on the 30-year Treasury bond was up at 2.735 percent. Bond yields move inversely to prices.
Investor sentiment was lifted on Monday, boosted by optimism surrounding U.S. tax cuts.
On Friday, Republicans released their final proposal to overhaul the country's tax system, which would look at slashing taxes for businesses, while trimming rates for individuals and modifying tax deductions. The House and Senate GOP are looking to pass the measure this week.
Expectations that the tax bill will be approved boosted U.S. stocks on Friday and buoyed the Dow Jones industrial average more than 100 points Monday. Markets overseas also rose on the back of optimism surrounding U.S. tax changes.
—CNBC's Jacob Pramuk contributed to this report