U.S. government debt prices were lower Monday morning as investors assessed the possibility of economies around the world beginning to reopen after prolonged coronavirus shutdowns.
A number of U.S. states, including Colorado, Mississippi, Minnesota, Montana and Tennessee, have vowed to ease restrictions this week on commerce brought about by the coronavirus pandemic.
However, experts have warned against reopening economies without systematic diagnostic testing and contact tracing in place.
Meanwhile, White House advisor Kevin Hassett on Sunday told ABC that the historic economic hit from the lockdowns will likely increase the national unemployment rate to 16% or higher this month, necessitating more fiscal stimulus.
Auctions will be held Monday for $57 billion of 13-week Treasury bills, $48 billion of 26-week bills, $42 billion of 2-year notes and $43 billion of 5-year notes.
There are no major economic releases expected on Monday.