Treasury yields fall as investors eye stimulus plans

U.S. Treasury yields slumped on Monday, as traders kept an eye on President Joe Biden's efforts to push through his proposed $1.9 trillion economic stimulus plan.

The yield on the benchmark 10-year Treasury note fell to 1.036% around 4:15 p.m. ET, while the yield on the 30-year Treasury bond slipped to 1.796%. Yields move inversely to prices.

Treasury yields dropped as Biden's coronavirus relief spending package faces opposition from many congressional Republicans.  

The fiscal aid includes direct checks to millions of Americans, aid to state and local governments, funding for Covid vaccines and testing, a boost to the minimum wage and enhanced unemployment benefits, among other things.

— CNBC's Pippa Stevens contributed to this report.