U.S. government debt prices were lower on Monday as traders continue to monitor U.S.-China trade talks.
The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.83%, while the yield on the 30-year Treasury bond was also higher at around 2.275%.
Treasurys
Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.
The reading came in at 48.1 vs. an expectation of 49.4 and the previous month's reading of 48.3.
Market players are closely monitoring U.S. and China relations. Chinese state media reported Sunday that Beijing wants a cancellation of tariffs for a phase one trade deal.
There is no clear indication of when both countries will be able to sign an agreement and last week saw fresh tension between Washington and Beijing after President Donald Trump signed legislation supporting protesters in Hong Kong.
Trump also said Monday he will restore tariffs on metal imports from Brazil and Argentina.
Meanwhile, the U.S. Treasury is set to auction $84 billion in 13 and 26-week bills.