U.S. government debt yields rose on Monday as the Trump administration softened its rhetoric on U.S.-China trade relations.
The yield on the benchmark 10-year Treasury note was higher at around 2.788 percent at 2:56 p.m. ET, while the yield on the 30-year Treasury bond was higher at 3.021 percent. Bond yields move inversely to prices.
A potential trade war between the United States and China has kept global markets on edge over the past few weeks, with both governments unveiling tariffs on the other country's imports.
After China announced additional tariffs on 106 U.S. products last Wednesday, President Donald Trump threatened more tariffs on the Asian nation and asked the United States Trade Representative to consider $100 billion in additional tariffs against China.
However, U.S. President Donald Trump appeared to soften his rhetoric over the weekend, tweeting "President Xi and I will always be friends, no matter what happens with our dispute on trade."
With little data due, investors are likely to closely monitor the trade situation. China's foreign ministry said Monday that the U.S. was to blame for the trade friction, adding that it was impossible for talks to occur in this current environment, Reuters reported.