At around 03:00 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.4917 percent, while the yield on the 30-year Treasury bond was also lower at 2.8993 percent.
On the data front, factory orders for February will be published at around 10:00 a.m. ET.
The U.S. Treasury is set to auction $42 billion in 13-week bills and $36 billion in 26-week bills.
Meanwhile, oil prices rose to their highest level since November 2018 on Monday. The upswing in crude futures comes amid OPEC’s ongoing supply cuts and U.S. sanctions against Iran and Venezuela.