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U.S. government debt yields ticked higher on Monday as investors shrugged off trade concerns.
The yield on the benchmark 10-year Treasury note was higher at around 2.869 percent at 3:29 p.m. ET, while the yield on the 30-year Treasury bond rose to 2.992 percent. Bond yields move inversely to prices.
As anticipated, fears surrounding a potential trade war between the U.S. and other major economies continue to plague market sentiment around the world.
The U.S. administration is reportedly looking into drafting a bill that would allow the White House to unilaterally increase tariffs without congressional consent, according to an Axios report published Sunday. If legislation moves ahead, it could mean that the U.S. would be acting outside of the World Trade Organization’s policies and rules.
Elsewhere, a report by the Financial Times suggested that the U.S. could receive a new round of tariffs worth as much as $300 billion, if Washington moves ahead with levies on automakers in the European Union.
—CNBC’s Nyshka Chandran contributed to this report