U.S. Treasury yields were little changed on Monday amid looming uncertainty around the U.S. election and a continued surge in cases of the coronavirus.
The slight moves come ahead of the U.S. presidential election Tuesday. A national poll average puts Democratic candidate Joe Biden 7.2 points ahead of President Donald Trump.
The U.S. is continuing to see a surge in cases of Covid-19, with 81,493 confirmed infections reported on Sunday, according to data compiled by Johns Hopkins University.
Meanwhile, Prime Minister Boris Johnson announced Saturday a stay-at-home order in England to curb the coronavirus outbreak. England is closing all nonessential businesses for the next four weeks after more than 22,600 weekly Covid-19 cases were reported for the U.K., far higher than its first peak of 4,800 average weekly cases in the spring.
On the data front, manufacturing activity in October jumped to its highest level in more than two years, according to the latest Institute for Supply Management. The ISM Manufacturing PMI rose to 59.3, a 3.9 percentage point move higher from September and another indication of economic healing from the coronavirus-induced recession that began in February.
Auctions will be held on Monday for $54 billion worth of 13-week bills and $51 billion of 26-week bills.