U.S. government debt yields rose Monday amid strong corporate earnings on Wall Street and upbeat commentary from the White House related to U.S.-China trade relations.
The benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.792%, while the yield on the 30-year Treasury bond was also higher at around 2.288%.
The moves in pre-market trade come as investors continue to closely monitor global trade developments.
On Friday, Chinese Vice Premier Liu He said Beijing would work with the U.S. to address one another's trade concerns. China's chief negotiator in the trade talks also said that stopping the trade war would be good for both countries — as well as the global economy.
Meanwhile, President Donald Trump has said he hopes a trade deal between the U.S. and China will be signed by the time the Asia-Pacific Economic Cooperation meeting takes place in Chile in mid-November.
The two economic superpowers reached a limited trade deal last week, in an attempt to end a protracted dispute that has battered financial markets and hammered global growth. Both sides are working toward a comprehensive breakthrough.
The third-quarter earnings season began with a strong start over the last couple weeks, fostering an appetite for risk assets. Companies such as J.P. Morgan Chase, Bank of America, Netflix and others have posted better-than-expected results. To be sure, companies are beating muted estimates.
Analysts polled by FactSet expect overall S&P 500 earnings for the third quarter to have fallen by 4.7%.