U.S. government debt yields rose slightly on Monday as investors awaited a Federal Reserve meeting later in the week.
At around 3:05 p.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.603 percent, while the yield on the 30-year Treasury bond was little changed at 3.014 percent.
On Friday, the yield on the benchmark 10-year Treasury note hit its lowest level since early January.
The Federal Reserve will begin its meeting on interest rates on Tuesday, which ends with a news conference on Wednesday. The Federal Reserve is expected to lower their interest rate forecasts — or "dot plots" — to show little or no further tightening in 2019.
Market expectations for a rate hike are at zero, according to the CME Group's FedWatch tool. However, investors will look for clues about the central bank's economic outlook.
The Fed said in its prior meeting that it will be "patient" and data-dependent when deciding whether to raise rates going forward.
In a separate release earlier this year, Federal Open Market Committee members also mentioned the reduction to the central bank's balance sheet. The committee issued a separate three-paragraph statement noting that "it is appropriate at this time to provide additional information regarding its plans to implement monetary policy over the long run."