Treasury yields eased as falling oil prices took some pressure off inflation worries. A report showing a weakening of manufacturing activity in New York state also weighed on yields.
The yield on the 10-year Treasury fell to 4.22% from 4.28% late Friday. The 30-year Treasury bond yield was down 1 basis point at 4.84%. The 2-year Treasury note yield fell less than a basis point to 3.67%.
Yields though are still higher than they were before the war when the 10-year Treasury yield was at just 3.97%. Traders have pushed back their expectations for when the Federal Reserve could resume its cuts to interest rates because of the spike in oil prices caused by the war.