U.S. government debt prices were slightly lower on Monday morning.
The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was higher at around 3.1519 percent, while the yield on the 30-year Treasury bond was also higher at 3.3277 percent.
As the new week kicks into action, many investors remained cautious following an abrupt market shakeout in the previous trading week.
Not helping the mood, oil prices bounced and Saudi Arabia’s shares tumbled amid rising diplomatic tensions between Riyadh and Washington over the disappearance of a journalist critical of Saudi policies.
International benchmark Brent crude traded at around $81.14 Monday morning, up around 0.7 percent, while U.S. West Texas Intermediate (WTI) stood at $71.77, slightly more than 0.4 percent higher.
Soaring energy prices could boost inflation around the world and spark rises in U.S. borrowing costs, which are also seen hampering weak borrowers — particularly in emerging markets.
On the auction front, the U.S. Treasury is set to auction $45 billion in 13-week bills and $39 billion in 26-week bills on Monday.
In the economic sphere, retail sales figures for September are scheduled to be published at around 8:30 a.m. ET on Monday. Later in the session, Empire State Manufacturing Index data for October and business inventories data for August are both set to be released at around 10:00 a.m.