U.S. Treasury fell on Monday morning, with investor focus turning to minutes from the Federal Reserve's last meeting, due out later in the week.
Investors will be keeping a close on eye on Fed minutes from the previous policy meeting, set to come out Wednesday, for any clues as to the central bank's thoughts on inflation.
Data released last week showed that the Consumer Price Index jumped 4.2% year-on-year in April, stoking fears that the Fed could be forced to start tapering its easy monetary policy if higher price pressures are sustained.
In terms of data out Monday, the NAHB Housing Market Index for May is set to come out at 10 a.m. ET.
Fed Vice Chair Richard Clarida is due to make a speech on sovereign markets at the Federal Reserve Bank of Atlanta Financial Markets at 10:05 a.m. ET.
Auctions are due to be held for $57 billion of 13-week bills and $54 billion of 26-week bills.
— CNBC's Yun Li contributed to this report.
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