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U.S. government debt yields rose Monday as investors looked ahead to a widely-anticipated meeting between U.S. and Chinese trade officials later this week.
At around 9:45 a.m. ET, the yield on the benchmark 10-year Treasury note was higher at around 2.657 percent, while the yield on the 30-year Treasury bond was also higher at 2.998 percent. Yields move inversely of bond prices.
There are further trade meetings between the U.S. and the Chinese administrations later this week. Time is running out for the two economic powerhouses to reach a permanent pact ahead of the self-imposed deadline of March 2. Failure to reach an agreement will raise U.S. tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent.
That deadline could be moved, however, a White House official told CNBC last week.
Axios reported on Sunday, citing two administration officials, that President Donald Trump's advisors have discussed holding a casual summit with Chinese President Xi Jinping next month at Mar-a-Lago, Trump's private club in Florida. The reported meeting could take place as soon as mid-March, though the officials cited in the story added that nothing has yet been set.
There is also a growing focus on a potential second government shutdown. Democrats and Republicans remain at odds over border policy and could see parts of the federal government close if they don't reach an agreement by end of day Friday.