U.S. Treasury yields fell slightly on Monday with investors opting for safe-haven assets amid the escalated geopolitical tensions between Russia and Ukraine.
The yield on the benchmark 10-year Treasury note fell 1 basis point to 1.9371% at 3 a.m. ET. The benchmark 10-year rate hit the 2% level last week following the hottest inflation reading in four decades.
The yield on the 30-year Treasury bond, meanwhile, fell 1 basis point Monday to trade at 2.2399%. Yields move inversely to prices and a basis point equals 0.01%.
On Friday, a sharp move lower in bond yields came after U.S. National Security Advisor Jake Sullivan said at a White House briefing that there were signs of Russian escalation at the Ukraine border and that it was possible that an invasion could take place during the Olympics, despite speculation to the contrary.
A phone call over the weekend between U.S. President Joe Biden and Russian President Vladimir Putin, in which Biden attempted to dissuade Putin from attacking Ukraine, failed to achieve a breakthrough.
Some airlines have also halted or redirected flights to Ukraine amid the brewing crisis, while the Pentagon ordered the departure of U.S. troops in Ukraine.
There is no major economic data due out on Monday and no scheduled auctions from the Treasury.
— CNBC’s Tanaya Macheel contributed to this article.